- Nick Slaney discussed how worldwide payments might be made at low costs.
- The plan to construct a lighting network architecture would include community plans.
The TBD business unit of Block, led by Jack Dorsey, has revealed plans to construct a bitcoin lightning infrastructure. When asked about his plans, Block’s product designer engineer indicated he was leaving the wallet team to join an entirely other group tasked with developing a lightning network.
On Twitter, Nick Slaney made the news. Further, he discussed how worldwide payments might be made at low costs and quickly using the Lightning Network. As with previous Bitcoin-related products, the team indicated that the plan to construct a lighting network architecture would include community plans and views and suggestions from other brilliant individuals in the crypto community.
Nick Slaney said:
“We’ll be partnering with, and building off the great work that cashapp and spiral have already done with lightning. Our goal is to not only build the tools and infrastructure we need for our products but also to be additive to the lightning network ecosystem on the whole.”
Web5 on the Cards
NASDAQ-listed Block’s TBD, the company’s commercial arm, announced a new platform on Saturday named Web 5. Unlike the Bitcoin blockchain, the platform’s purpose was to establish a “decentralized web that puts you in control of your data and identity.”
Decentralized identifiers, decentralized web nodes, and self-sovereign identity services are all components of the blockchain technology that will be used to build Web 5, according to the website. All in all, DIDs provide a way to verify one’s digital identity, DWNs offer a way to receive and record data, and SISs allows users total control over their accounts and the personal information they save on those accounts. In addition, Jay-Z and Jack Dorsey collaborated on a Bitcoin Academy.
