Square Crypto, the cryptocurrency division of Square, the publicly traded company of Jack Dorsey, is developing the Lightning Development Kit (LDK), according to the company's latest announcement.
After chatting with Bitcoin wallet developers, the Square Crypto team realized that it is too cumbersome for them to integrate Lightning. There is no single approach to integrate the Layer 2 protocol into each application separately.
“Wallets and applications require different storage mechanisms and key backups, security approaches, UX compensation and more. That means the solution is creating more wallets, not less ».
Therefore, this led to the need to create the LDK that is expected to simplify the process of adding support for Lightning that should ideally be compatible with any wallet on multiple devices.
Square Crypto, which will be supported by Acinq, Blockstrem, hopes that this initiative will open the door to fast and cheap Bitcoin payments.
However, the adoption of Lightning Network does not stop. As reported recently, Electrum became the first wallet to admit LN before Bitfinex also implemented this novel feature.
Andreas Antonopoulos, author of ‘Mastering Bitcoin’, is currently working on his new book called ‘Mastering Lightning’.