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Felicia Tan
in
Crypto
June 3 22:50

Square Crypto provided another grant for Lightning Network development

Jack Dorsey Square Crypto has announced another grant for its Lightning Network second infrastructure layer. It was awarded to the Spanish development team of Talaia, working on the service The Eye of Satoshi.
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The Eye of Satoshi is a so-called "Watchtowers" - a solution designed to provide additional assurance that users will not be deceived by their contractors.
The service under development also increases resistance to censorship, making it difficult for certain types of attacks. Despite the fact that the solution involves certain compromises in terms of decentralization, Square Crypto believes that the development of technology is still at an early stage and in general the Lightning Network will benefit from the experiments with different watchtowers.
The Eye of Satoshi is already working with C-Lightning and will support other LN implementations in the future.
Square Crypto didn't name the grant amount, but it's the sixth grant that Square's cryptodivision provides to bitcoin developers. The first of them was awarded to BTCPay Foundation, the developer of BTCPayServer processing service, for $100,000.
At the end of 2019 Square Crypto allocated funding to the developer Lightning Network under the nickname ZmnSCPxj.