Burak Introduces Ark v2 with Liquidity-efficient Design
"The founding idea behind Ark was to eliminate technical barriers and scale bitcoin payments for all in a user-friendly manner. This is where Ark v2 comes in."
- "The primary concern with Ark thus far has centered on the problem of liquidity lockup. As transaction volume increases on the network, the service provider must lock up more liquidity, resulting in Ark being characterized as a network with high capacity but low velocity," said Burak in a blog post.
- Ark v2 enables Ark Service Providers (ASPs) to reclaim their liquidity without having to wait for the expiration period (4 weeks) to elapse thanks to a new and improved TapTree structure.
- "Similar to Lightning’s revocation scheme, Ark v2 introduces a comparable mechanism. In Lightning, users revoke their channel state by revealing a secret. Similarly, in Ark v2, users reveal a secret upon spending a vTXO. Unlike Lightning’s revocation scheme, though, here the revocation secrets are aggregated and are utilized for the collective redemption of funds," writes Burak.
"Note that the revocation design alters the outpoint reference of the vTXOs, rendering CHECKSIG-based connectors unusable. Instead, introspection combined with CSFS-based connectors must be employed with the new design. This means a vTXO now must only sign the outpoint reference of the connector outpoint to forfeit itself, excluding its own outpoint context from the signature message."
- "Overall, the new design appears to involve considerable effort, but it seems to be worth it.Special thanks to Matt Corallo for inspiring me to work on a revocation design," added the developer.
