Ark Labs - Thread 🧵 \ stacker news ~lightning

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Ark Labs - Thread 🧵x.com/arklabshq/status/1798090964340486614

413 sats \ 10 comments \ @Rsync25 4 Jun lightning

Transaction fees and delays caused by congestion on bitcoin's mainchain are increasing demand for more scalable payment solutions. Lightning has made significant strides, but UX challenges (like inbound liquidity management) are driving users toward custodial solutions.

New approaches to scaling are needed to supplement the Lightning Network. This is where Ark comes in. Ark, proposed 2023, is a layer two protocol designed to offer speed and scalability without the burdens of liquidity management (for end users, at least!).

https://pbs.twimg.com/media/GPQaP88bAAAv_xF?format=jpg&name=small

Until now, Ark has been a theoretical solution to bitcoin’s scaling issues. But with the launch of Ark Labs, we’re making Ark a reality—we’ve released an open Ark implementation, which you can use to launch your own Ark Service Provider or wallet. https://github.com/ark-network

We’ve already started work on the first Ark-based services. If you’d like to be one of the first to try these out at launch, make sure you subscribe to our newsletter on our website. https://arklabs.to/

Ark uses a unique model for bitcoin transactions—users connect to an Ark Service Provider (ASP) and transact with “virtual” transactions (VTXOs). Unlike Lightning, end users only need a light wallet and all on-chain liquidity management is handled by their ASP.
https://m.stacker.news/33936

Importantly, an Ark VTXO can be redeemed on the bitcoin mainchain at any time, even if the ASP is offline. This ensures that users have true self-custody of their Ark funds. Onboarding is easier too—users don’t need any bitcoin to open a channel and receive their first payment.
https://m.stacker.news/33937

All that said, we need to emphasize that Ark is not a replacement for Lightning! Lightning is an essential piece of the scaling puzzle. It’s especially suited to enterprise settlements (e.g., exchanges, federations, and ASPs)—Ark simply fills in its gaps for consumer payments.

Ark’s finally here and we’re excited to pioneer new possibilities with bitcoin. Whether you're looking to integrate Ark into your app, shape the protocol’s development, or make some of the first Ark payments, get in touch!

Full announcement

0 sats \ 0 replies \ @justin_shocknet 5 Jun

Wake up honey the latest Bitcoin affinity scam just dropped

users connect to an Ark Service Provider (ASP) and transact with “virtual” transactions (VTXOs)

translation: it's a centralized shitcoin

users only need a light wallet and all on-chain liquidity management is handled by their ASP.

translation: it might scam the regulator but is still completely trust-based for users

an Ark VTXO can be redeemed on the #bitcoin mainchain at any time, even if the ASP is offline

translation: If nothing malicious happened AND you can afford it, which you cant because otherwise you'd have just used Lightning

Ark is not a replacement for Lightning

translation: It's just lower-key FUD against Lightning

0 sats \ 0 replies \ @TheBTCManual 5 Jun

I remember listening to a podcast about ark a while back, wasn't it only enabled with covenants and the one drawback that would cook block space for the ASPs to keep settling their balances with the main chain?

Need to find that episode again and give it a relisten

0 sats \ 0 replies \ @SatsMate 5 Jun

Does no channel need to be opened up on the base chain? Also, how can it interact with the mainchain at any time if the Ark is offline? A few technical questions I have.

Pretty cool if this is implemented the right way!

0 sats \ 1 reply \ @03365d6a53 4 Jun

Where is the thread?

0 sats \ 0 replies \ @OneOneSeven 5 Jun

#562075

0 sats \ 1 reply \ @nickfostphone 4 Jun

Your post is a tweet, and the tweet doesn’t have any text in it that even explains what we’re looking at. I thought ark was a video game from the mid 2010s