Bitcoin developer Burak Recently unveiled Ark, a Layer 2 protocol designed to enable fast and secure transactions. according to Posted on Bitcoin developer mailing listArk offers an alternative approach to scaling that allows users to send and receive money without liquidity restrictions, making it easier for recipients to get paid without internal setup. Unlike other Layer 2 solutions such as Lightning, Ark does not require channels to be opened and closed, which greatly reduces the footprint on the chain.
The protocol works using virtual UTXOs (vTXOs), which are short-lived notes that expire after four weeks. When a payment is made, existing vTXOs are retrieved and new ones created. Anonymity of coin ownership has been improved by restricting vTXO values to a set of sats values. Users can obtain vTXOs from others or use a process called elevation, which allows them to elevate their own on-chain UTXOs from a virtual chain of UTXOs.
The protocol introduces an intermediary called Ark Service Provider (ASP), which acts as a liquidity provider, CoinJoin coordinator, and Lightning service provider. ASP creates fast, encrypted CoinJoin sessions every five seconds, known as pools, which ensure the accuracy of the payment tables. Recipients can claim their funds through a txlock clause that requires the connector’s connection point to remain unchanged.
Ark’s integration with the Lightning Network allows users to attach HTLCs (or PTLCs) to a bulk transaction, enabling interoperability between the two protocols. Multiple ASPs can be used to pay Lightning bills from different vTXO sources using multipart payments. Payments on the Ark are added every five seconds, allowing users to spend vTXO without confirmation instantly without waiting for confirmations on-chain.
The developer behind Ark highlighted the protocol’s potential for future additions and improvements. The default data manipulation opcode can discourage double spending, and users can craft an ASP signature to restore their vTXOs in the event of double spending. Overall, Ark presents a promising solution for efficient and secure off-chain transactions on the Bitcoin network.
For more information on the Ark and its technical details, curious users are encouraged to visit https://arkpill.me/deep-dive.
