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Asset management firm launches BTC Lightning Network startup accelerator

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Asset management company Stoneridge Parent company of Bitcoin company NYDIGhas launched its first startup accelerator focused on the Bitcoin Lightning Network and the Taro protocol called In Wolf’s Clothing (Wolf).

The Accelerator consists of an eight-week program that brings together the best founders and startup teams from around the world in New York City, with accommodation and travel expenses paid for.

Teams that apply and are accepted into the program are guaranteed a $250,000 investment. A panel of judges will select one team and he will receive an additional $500,000 in funding at the end of each program on Demonstration Days.

The program runs four times a year, with the first program now accepting applications and scheduled to begin next April.

Wolf CEO Kelly Brewster pointed to one-on-one mentorship and access to a range of experts as additional benefits of the program.

Despite macroeconomic headwinds and a significant drop in the Bitcoin price (Bitcoin), the Lightning Network has continued to grow its capacity rapidly in recent years. Exceeding the 5,000 BTC threshold after having only Reached 4,000 BTC in June.

Bitcoin Lightning Network Capacity.sauce lookintobitcoin.com

Related: CashApp Adds Support for Bitcoin Lightning Network

of Lightning Network is a Layer 2 solution built on top of Bitcoin that allows users to send the smallest amount of Satoshi that can be split into Bitcoins at high speed and low cost.

The Taro protocol is a Taproot-powered protocol designed by Bitcoin. Lightning Labs for Software CompaniesThis allows assets issued on the Bitcoin blockchain to be transferred to the Bitcoin Lightning Network.

In other words, Taro enables the Lightning Network to become a multi-asset network with Bitcoin at its core.

according to Data from 1ml, at the time of writing, the network’s capacity is currently at 5,140 BTC, up 5.43% over the past month, and the median transaction fee is well below one millionth of a cent per Satoshi. increase.