The lightning company is gathering again: This is good for Bitcoin.

Recently, Flashnet has announced that it has raised $ 4.5 million in seed rounds led by abstract ventures with the participation of UTXO Management and other participation.

Flashnet is a bitcoin native dex based on Bitcoin L2 designed between the Flashnet team and LightSpark. It is designed to compete with the performance of CEX without custody (central exchange).

Spark allows users to be sent and received by default through lightning while enabling the immediate and unlimited self -transactions of Bitcoin and tokens. Bitcoin is open and secured. Spark is designed to solve the rest of Bitcoin and Lightning, and focuses on expanding self -use wallets and enabling stablecoins in Bitcoin.

I personally try to supplement LN instead of trying to replace recent L2 proposals such as ARK or SPARK. Using this fast -growing scaling ecosystem opens a design space for something great. This is the reason for the utility of BTCFI (Bitcoin Finance) for Bitcoin.

Of course, the question remains. Are we really talking about the “distributed” exchange here?

In the available documents, the operation of Flashnet is as follows.

• When a user orders a market or market order, the funds are sent to the MULTI-PARTY Computation (MPC) wallet. Here, the user, exchange and validity test machine set acts as a signer. The funds of the MPC wallet are not charged until the game is done in a similar way to how approval works in Ether Leeum. In the case of market manufacturers and massive actors, there is an option to store funds in MPC wallets so that each order does not require spark transactions.

• The MPC wallet receives a signed manufacturer/taker order to solve the transaction and start distributing funds. All validic examples must agree with the intention to match the user’s command, so the limited order of 100 BTCs is valid only when the opponent’s order is consistent or exceeded with 100 BTC. This intention is known for the order signed by the user submitted at the time of ordering.

• All transactions are settled in sparks immediately and atoms through the basic atomic swap mechanism. Trust only requires only a short interval between match and consensus, which lasts only a few milliseconds. The user also allows users to unilaterally terminate the MPC at any time using Spark’s unilateral outlet function. We offer an additional security class. RFQ offers can also be used for wallets, mining pools and platforms, allowing users to request quotes from market manufacturers. .

This development not only complements lightning, but also pushes Bitcoin’s ecosystem with greater adoption and usefulness, showing whether the resurrection of investment in technology according to lightning is a positive sign for the future of Bitcoin.

This article is A Take. The expressed opinion is entirely the author’s opinion and does not necessarily reflect the opinions of the BTC INC or Bitcoin magazine.

Guillaume’s articles can be discussed, especially the topic and company, which is part of the company’s investment portfolio.Lubo management). The expressed view is entirely on its own and does not indicate the opinion of his employer or its affiliates. He does not receive financial compensation for these take. Readers should not consider this content as financial advice, certain companies or investments. Always do your own research before making financial decisions.