• TBD, a Bitcoin-focused subsidiary of Jack Dorsey’s Block, has announced a new Lightning Network business called c=.
• The purpose of the company is to provide infrastructure using bitcoin from Block’s treasury to make bitcoin’s Lightning Network more usable and reliable for developers, businesses and their end consumers.
• c= will provide liquidity to enable transactions and collaborate with developers to provide more efficient routing and liquidity.
TBD Announces New Lightning Network Business
TBD, a Bitcoin-focused subsidiary of Jack Dorsey’s Block, has announced a new Lightning Network business called c=. The purpose of the company is to use bitcoin from Block’s treasury to make the Lightning Network more usable and reliable for developers, businesses (such as merchants that accept Lightning payments), and their end consumers.
Providing Infrastructure for the Network
Operating a node on the Lightning Network requires connections; c= provides node operators — whether bitcoin wallets, individuals, or other entities that want to use the network — with valuable connections. Through its LSP (Lightning Service Provider), any business or individual running a Lightning node can gain efficiencies in making their transactions via Lightning with minimal effort and investment without having to rely on an intermediary to custody their bitcoin.
c= will also provide liquidity to enable transactions, as well as collaborate with developers in order to provide more efficient routing and liquidity via APIs and services. This should help increase adoption of Bitcoin’s second layer scaling protocol by providing users access to greater resources when it comes time for them make payments through the network.
Building Towards Open Source Economy
When Square was renamed into Block in 2022, TBD’s lead Mike Brock explained that “TBD’s mission is bridge old technologies with new ones…We are building a new open-source company from ground up focused on open protocols and open standards that all participants in economy can benefit from.“ With this entrance into Bitcoin’s second layer scaling protocol TBD will have major presence in Lighting infrastructure.
Nick Slaney (lead at c=) told Bitcoin Magazine that they were “excited use bitcoin in our treasury grow lightning network our company mutually beneficial way“ He reiterated need for efficient connection options anyone looking send/receive payments through lightning network given it still relatively new technology space.