Ark Labs launches to develop new Bitcoin Layer 2 payments network

Ark Labs launched on Tuesday, creating a company dedicated to developing a new Bitcoin Layer 2 payments network based on the Ark protocol.

“If covenants were activated on the Bitcoin network, it could offer lots of nice optimisations for Ark users. But there’s no need to wait — Ark is already possible on Bitcoin today,” Ark Labs CEO Marco Argentieri said in a statement shared with The Block. “With the launch of Ark Labs, we're finally making Ark a reality, so that users can start enjoying the benefits of seamless, scalable transactions right away.

Ark Labs is funded with a grant from bitcoin-native financial services firm Vulpem Ventures and led by a team of seasoned Bitcoin developers. Ark Labs will lead the maintenance of an open-source implementation of the Ark protocol, now available for anyone to build an ASP or Ark-enabled wallet.

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