$10 Million Startup Launches New Tools for Lightning Network Developers

$10 Million Startup Launches New Tools for Lightning Network Developers

 
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Radar, a US-based technology startup, has launched a new set of tools for developers working on the lightning network, which is a second-layer protocol that uses a base layer protocol as its security.

The startup plans to release a new set of tools at the Boltathon hackathon, a virtual lightning network conference which takes place this weekend in Los Angeles. The set includes a helper to configure the settings and a test ground for trying out whether the lightning node can connect to other nodes.

“We’re constantly scanning the horizon for groundbreaking technologies, last year our R&D team identified lightning as promising technology, with the potential for more than just payments. While an Ethereum decentralized application (dapp)] was our first product, our parent brand Radar is focused on building products for our next financial system. Next, we’re focused on building tools to support developers creating apps on the network” said Brandon Curtis, product leader at Radar.

At the beginning of the last month, Radar launched a Radar ION, an onramp to the Lightning Network. It contains all information a new user needs, in order to join the Lightning Network.

“Bitcoin is the most exciting and empowering thing to happen to financial markets in decades and the Lightning Network is taking things to the next level. The biggest challenge, however, is onboarding users and I’m thrilled to see Radar tackling this challenge head-on with ION,” said Spencer Bogart, Partner at Blockchain Capital.

Radar is mostly known for its Radar Relay product, a wallet-to-wallet decentralized trading platform. The startup completed a $10.3 million Series A funding last year, after collecting $3.1 million in seed round a year earlier.

Blockchain Capital, a San Francisco-based venture capital firm investing in blockchain startups, was registered as a lead investor in both series.