Bitcoin Layer 2 Ark Protocol's Team Forms New Firm as Lightning Network Competitor
Briefly

The new firm, Ark Labs, was established to respond to the need for scalable, low-cost bitcoin payments, aiming to create a better system than Lightning Network.
Instead of requiring users to commit funds at the outset to establish liquidity, Ark uses service providers who provide 24-hour liquidity services for a fee.
Read at Coindesk
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