Ark: An Alternative Privacy-preserving Second Layer Solution

[BlackHatCoiner]

Ark v0.2.0 is released: https://github.com/ark-network/ark/releases/tag/v0.2.0

In this release:

• Wallet interface has a covenant-less implementation. That means it is now possible to send satoshis in Bitcoin networks, such as signet. (not mainnet, yet)
• Offline payments are introduced. Sender co-signs the transaction with the ASP and delivers the payment request to receiver, whenever he (the receiver) comes back online. This is like your transaction being unconfirmed until you come back online.
• MutinyNet support is added. Mutinynet is a custom Bitcoin signet, which has a 30-second block interval.

Yesterday, when testing v0.2.0 with one of their core contributors, I was able to receive 2000 signet sats off-chain, without making a single on-chain transaction.

Code:

$ ark balance
{
    "offchain_balance": {
        "details": [
            {
                "amount": 2000,
                "expiry_time": "2024-08-22 23:04:26"
            }
        ],
        "next_expiration": "2024-08-22 23:04:26",
        "total": 2000
    },
    "onchain_balance": {
        "spendable_amount": 0
    }
}

[BlackHatCoiner]

Important announcements.

- Ark Labs closes a $2.5M pre-seed fundraise with the investor Tim Draper and his associates: https://blog.arklabs.to/ark-labs-secures-2-5-million-pre-seed-to-power-the-future-of-bitcoin-driven-global-commerce-9b5b19fe1a37. This will allow more people to work on Ark full-time. Soon, ArkLabs will post job openings. I'll let you know.
- Short video about the wallet software is out: https://x.com/ArkLabsHQ/status/1827013390134296723.

Cheap, private and fast off-chain transactions are the way to go.