The team behind Radar, a startup that raised $10 million last year and operates a decentralized cryptocurrency exchange on the Ethereum network, has recently unveiled a suite of tools for developers working on Bitcoin’s layer-two scaling solution, the lightning network.
According to CoinDesk, the tools are going to be released at the Boltathon hackathon, and will include a configuration helper to set up a lightning network node, an invoice ‘playground’ in which users can test if their nodes can connect to others, and a liquidity tool to help them send and receive payments.
The tools, the news outlet reports, are part of Radar ION, a site operated by the startup that helps onboard users onto the Lightning Network. This was notably the team’s first move branching out into the BTC realm, as Radar is known for creating a decentralized ether and ERC-20 token exchange called Radar Relay.
Speaking to CoinDesk Brandon Curtis, Radar’s product lead, stated:
We’re constantly scanning the horizon for groundbreaking technologies, last year our R&D team identified lightning as promising technology, with the potential for more than just payments. While an ethereum [decentralized application (dapp)] was our first product, our parent brand Radar is focused on building products for our next financial system.
Radar is reportedly planning to keep on focusing on the flagship cryptocurrency’s layer-two scaling solution, as it’s reportedly eyeing making it easier for developers to make apps for the Lightning Network.
Bitcoin’s layer-two scaling solution, as CryptoGlobe has been covering, is growing rapidly. Last month it reached a $3 million capacity, and at press time according to 1ML data it’s capacity is already over the $5 million mark. The network has over 7,800 nodes, and over 39,000 open payment channels.