Last Friday, September 20, via a video conference, ARK Protocol developers demonstrated the viability of their scalability solution for Bitcoin. The demonstration, witnessed by prominent Bitcoiners and ecosystem representatives, marked a milestone in the evolution of transactions on the Bitcoin network.
During the test, witnessed by Stephan Livera, Marty Bent, John Carvallo, Vivek4real and other bitcoiners, the developers implemented an ARK service provider, known as ASP, and a command line wallet called “bark”. Guests created their own wallets and received test satoshis to make transactions.
The demonstration began with a round of round paymentsan innovative concept from ARK Protocol. “With everyone prepared, it was time to run the first round,” reported in a publication from blog.
In this protocol, the ASP automatically triggers rounds at regular intervals, but for this test, it was triggered manually. Seven guests participated, each adding their transaction to the round, resulting in a single transaction on the blockchainwhich demonstrated remarkable efficiency in terms of transaction costs.
The transaction was broadcast to the Bitcoin Mempool and confirmed at block 862,149. In addition to round-trip payments, individual payments known as “arkoor” were made.
These payments are faster than typical Bitcoin Lightning Network payments, completing almost instantly. with only one round trip between the client and the serverin contrast to the multiple hops of Lightning payments.
However, it was highlighted that the security model for arkoor payments is different. “The recipient must trust that the payer and the ASP are not colluding to double spend,” it was explained. As a security measure, the recipient was able to convert their arkoor transaction into a round transaction during the next round.
This test was experimental, with the mainnet software disabled following the demonstration. Those interested can try out ARK at regtest, with the code available on Codeberg, ARK Protocol developers reported.
Interoperability with the Lightning Network
ARK Protocol also demonstrated its interoperability with the Lightning Network. Participants made transfers to their Lightning wallets, with the ASP acting as a Lightning “gateway.” As demonstrated, payments were seamlessly completed within seconds, managed in an atomic manner to avoid counterparty risks.
ARK Protocol is a second layer for Bitcoin that seeks to improve the scalability and efficiency of transactions. As CriptoNoticias reported in May 2023, ARK allows multiple payments to be made in a single transaction on the blockchain, significantly reducing costs. and increasing the speed of operations.
The ARK protocol reached a significant milestone upon reaching the Bitcoin mainnet in early September 2024. This achievement, confirmed by the community and developers, marks a step forward in the scalability and efficiency of transactions in Bitcoin. As indicated by the developers, ARK “is ripe for its debut” and that’s why they founded Second, a company focused on Bitcoin scalability through ARK and other second layer technologies.
Second layers like ARK or Lightning are crucial for Bitcoin’s scalability. They allow the network to handle a higher volume of transactions without compromising security or decentralization, which is vital for the mass adoption of bitcoin (BTC). These solutions not only speed up transactions, but also reduce costs, making BTC more accessible and efficient for everyday use, an essential step towards its integration into the global economy.
This article was created using artificial intelligence and edited by a human on the editorial staff.
