Recently, Flashnet It was announced by the company that they had raised a seed funding round of $4.5 million, which was led Abstract Ventures UTXO is a participant in the event Management Other people.
Flashnet It is not a Bitcoin Native DEX on Basis Spark (a Bitcoin The L2 is a design between two. Flashnet The team LightSpark). It’s designed to rival the performance of a (Centralized ExchangeCEX does not have any of the custody.
Spark Instant and unlimited transactions for self-custodial Bitcoin Users can send and receive tokens natively through Lightning. It's open-sourced and secured by Bitcoin. Spark It was created to address Bitcoin You can also find out more about the following: Lightning's remaining challenges, focusing on scaling self-custody wallets and enabling stablecoins on Bitcoin.
I’m personally a fan of recent L2 proposals like Ark You can also find out more about Spark Rather than replacing LN, why not complement it? Having this burgeoning scaling ecosystem opens up the design space for something great — obsoleting Uniswap Bring all fees with you Bitcoin. This is why I’m so adamant about the utility of Bitcoin Finance BTCfi Bitcoin.
Of course, the question remains, are we really talking about a “Decentralized” exchange here?
From the documentation available, here’s how Flashnet Would work:
- When A user who places a Limit or Market Order sends money to an MPC.Multi-Party ComputationThe wallet is a digital signature that includes the signer, the exchange as well as a group of validators. Funds Similar to the way approvals are handled in Ethereum. For market makers and high-volume actors, there's an option to keep funds in the MPC wallet to avoid the need for a Spark In this case, they are validators and can instill a greater level of trust.
- The MPC wallet will receive signed maker/taker instructions to settle transactions and start fund dispersal. All validators must agree on the user's intent to match with the counterparty order, ensuring that a limit order for 100 BTC is only valid if the counterparty order matches or exceeds 100 BTC. This Orders signed by the customer at time of order submission reveal their intent.
- All The trades will be settled instantly atomically and instantly on Spark Through its native atomic exchange mechanism. Trust Only during the very short time between match and settlement (a matter of milliseconds) is a confirmation required. AdditionallyUsers can unilatérally leave the MPC using Spark's unilateral exit feature, providing an extra layer of security.RFQ offers are also available for wallets, mining pools, and platforms, enabling users to request quotes from market makers for seamless BTC<>Token swaps.
This The development of a product is more than just an addition Lightning Not only pushes, but also Bitcoin's ecosystem towards greater adoption and utility, showcasing why the resurgence of investment in LightningThe presence of -adjacent technology is positive for Bitcoin's future.
This Article is an Take. Opinions expressed are entirely the authYou can also find out more about's and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Guillaume's articles in particular may discuss topics or companies that are part of his firm’s investment portfolio (UTXO Management). The His views are entirely his own, and they do not reflect the opinion of his company or affiliates. He’s receiving no financial compensation for these Takes. Readers You should not take this information as a recommendation or financial advice for any specific company, investment or business. Always Make sure you do some research on your own before making any decisions.
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