A crypto exchange Crypto.com confirmed that hackers stole nearly $34 million during Monday's hack. In a Tuesday update, the exchange revealed that hackers stole 443.93 bitcoin ($18.7 million), 4835.25 ether ($15.2 million) and approximately $66,200 in USD. The company faced criticism over its communication after the incident. The company's CEO only confirmed the hack on Wednesday, three days after it took place. In total, the hack affected 483 users. However, Crypto.com said that they fully reimbursed all of them. The…
Cementing his commitment to building on Bitcoin, Jack Dorsey’s “Spiral” (formerly “Square Crypto”) has released its Lightning Development Kit (LDK). The kit is available on GitHub and it helps people “build a lightning node without worrying about implementing low-level lightning logic correctly.”
That means developers have received an easy-access resource for integrating Bitcoin payments into other apps.
The Lightning Dev Kit
Spiral announced its new coding library through a humorously presented video trailer on Monday. Its inspiration comes from an apparent struggle to integrate lightning capabilities into existing Bitcoin wallets. Conor Okus, product manager at Spiral, said their dev kit can easily integrate lightning into mobile-apps, video games, and more. Also, it is available in two programming languages: Rust and Swift.
The spiral team described the lightning network as a Bitcoin “accelerant”, making an otherwise inefficient network both “cheap” and “fast”. In development since 2015, lightning is now used by various organizations ranging from Jack Maller’s “Strike” to El Salvador’s “Chivo”. Additionally, most experts agree that Lightning has solved Bitcoin’s long-standing scaling issue. Therefore, it makes it practical as a global payments network.
As Dorsey (presented as a puppet) explains later, LDK makes any developer quickly build a wallet. He said that any group of people may now access lightning while avoiding various complexities.
“Our goal is to make Bitcoin the native currency of the internet,” said puppet-Dorsey in a long monologue. “If we do that, we have a new global reserve currency based on sound principles. Something that’s deflationary, that is accessible to every single person on the planet, that they can use to hold, to save, and also to transact with any internet service you can imagine.”
In July, Blue Wallet had already launched a mobile implementation of LDK. It allows users to fund lightning channels directly from cold storage hardware wallets.
Devotion To Bitcoin
Jack Dorsey has not minced words regarding his devotion to Bitcoin. Only days after stepping down as CEO of Twitter, he rebranded his existing company Square to “Block”, named after the blockchain. The company also renamed its sub-branch “Square Crypto” to “Spiral” to erase any suggestion that the company may focus on non-Bitcoin digital assets.
Before leaving Twitter, Dorsey was sure to implement Bitcoin lightning payments into the social media app. Coincidentally, one noteworthy hacker discovered an Ethereum tipping feature just as Dorsey stepped down.