The crypto market is still bloody today, and Bitcoin (BTC) is definitely suffering a correction following the rally from the past week.
Josh Rager is one of the voices in the crypto space who said that there’s nothing to worry about because such a correction is normally after a surge in price.
At the moment of writing this article, BTC is trading in the red and the most important coin in the market is priced at $8,339.72.
Square Crypto plans to boost BTC
Square Crypto is the division of mobile payment company Square, and it’s revealing its much-anticipated plan to boost Bitcoin adoption.
Jack Dorsey, the CEO of Square and Twitter, said that Square crypto is building a Lightning Development Kit.
This product is designed to offer developers an easy way to integrate the scaling solution Lighting with existing new Bitcoin wallets.
Lightning is a layer-two solution that’s designed to work on top of the Bitcoin network in order to make the payments much faster and cheaper.
According to the latest reports coming from the online publication th4e Daily Hodl, Square Crypto’s product will feature “an API, demo apps, language bindings, and other functionalities that can facilitate the integration of Lightning.”
Square crypto wrote: “Before diving into a major project, we wanted to be sure that it was not only a fit for us, but something that the open-source bitcoin community actually wanted. So, over the course of several months, we talked to dozens of other developers.”
They continued and explained that “What we heard was a need for Lightning integration with a different set of use cases. To us, this also meant creating something that open-source developers would want to continue building independently of our involvement. That’s why we based it on the Rust-Lighting project.”
Square Crypto is focusing on Lightning! ⚡️ https://t.co/boOiAAlLwc
— jack (@jack) January 22, 2020
Boosting Bitcoin adoption
Square Crypto says that it has already considered a few ways to supercharge Bitcoin adoption and they consulted with more developers before deciding to create the LDK.
“What we heard was a desire for flexibility when integrating Lightning. Wallets and applications require different key store and backup mechanisms, security approaches, UX tradeoffs, and more. That means the solution is building for more wallets, not fewer.”
