OKX, a prominent cryptocurrency exchange, has recently announced its participation in Okcoin’s Open Source Developer Grants program. This strategic partnership aims to support the development of Splicing, a groundbreaking feature for the Lightning Network.
Dusty Daemon, a developer, will be spearheading this project, which has already garnered significant attention within the Bitcoin community. OKX has committed a substantial donation of over USD 1.5 million to fund the research and development of Splicing.
The Lightning Network is a second-layer scaling solution for Bitcoin that aims to address the network’s scalability issues. By utilizing off-chain channels, it enables faster and cheaper transactions, making Bitcoin more practical for everyday use. Splicing, the upcoming feature under development, holds great potential to enhance the Lightning Network’s functionality further.
OKX’s decision to join the Open Source Developer Grants program and sponsor Dusty Daemon highlights the company’s commitment to advancing the Bitcoin ecosystem. By supporting the development of Splicing, OKX aims to contribute to the ongoing innovation and adoption of Lightning Network technology.