Jack Dorsey's payment company Block provides Lightning Network service "c=" using its own Bitcoin reserves to provide liquidity.

2023/3/6

Twitter founder Jack Dorsey's digital payment service provider Block, through its subsidiary TBD focusing on Bitcoin-related infrastructure development, plans to launch the Lightning Network service provider "c=."

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Lightning Network Service Provider "c="

Block, the digital payment service provider owned by Twitter founder Jack Dorsey, has a subsidiary called TBD that focuses on developing Bitcoin-related infrastructure. TBD is planning to launch a Lightning Network service provider called "c=".

c= will focus on improving liquidity and transaction routing on the Bitcoin Lightning Network. According to a report by Bloomberg, Block will also use its own Bitcoin reserves to provide liquidity for the Lightning Network to address transaction failures due to lack of liquidity.

Block has not made an official announcement regarding this. According to the official Twitter introduction of c=, it aims to promote the adoption of the Lightning Network, primarily focusing on providing support for enterprises and businesses.

Hey LN 👋
We’re here https://t.co/NzAKpVqgDz
— c = (@c_equals) March 2, 2023

According to previous reports, Block holds 8,027 bitcoins, ranking eighth among Bitcoin-holding companies. As of December 31, 2022, it has invested a total of $220 million, with an average Bitcoin purchase cost of around $27,400.

In the recently released fourth-quarter and full-year financial reports for 2022, Block saw slight growth in net revenue in the fourth quarter and gross profit for the full year compared to the bullish market in 2021.

APPLICATION DEVELOPMENT

Lightning Network Service Provider "c="

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