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News Explorer — Bitcoin L2 Ark Labs Wants to Be the Faster and Cheaper Alternative to Lightning Network

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Jun 4, 1:00 pm
Coindesk

Bitcoin L2 Ark Labs Wants to Be the Faster and Cheaper Alternative to Lightning Network

Ark Labs, a new company formed by the team behind the Bitcoin layer-2 protocol Ark, aims to build a faster and cheaper payments system on the blockchain. The company plans to develop an open implementation of the Ark Protocol and offer services for users, with the first service expected to launch later this year. Ark's off-chain payments use a unique model that avoids the "inbound liquidity" problem faced by Lightning Network.

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