A year following its proposal, a new project revealed today is committed to bringing the Ark concept into reality. Ark Labs has announced it is developing the Bitcoin layer-two network and hopes to capitalize on the growing demand for scalable, low-cost Bitcoin payment solutions.
Speaking with Bitcoin Magazine, Marco Argentieri, CEO of Ark Labs, shared his perspective on the evolution of the protocol since its initial release.
“After months of prototyping and putting together proofs-of-concept, we believe Ark is ready to enter the next stage of its development and we are excited to share this opportunity with the industry”.
Diagram of the Ark network infrastructure
Using accounts and virtual transactions coordinated by a trustless server, Ark enables low-cost off-chain transfers between participants who opt into the system.
Because of its simple server-client architecture, it manages to achieve this without the trade-offs usually associated wi
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