1 year ago
The startup accelerator volition dwell of 4 yearly 8-week programs, with palmy applicants receiving $250,000 and 1 receiving an further $500,000 astatine the extremity of the program.
Asset absorption steadfast Stone Ridge, the parent institution of Bitcoin institution NYDIG, has launched the archetypal startup accelerator that focuses connected the Bitcoin Lightning Network and the Taro protocol, called In Wolf’s Clothing (Wolf).
The accelerator consists of 8-week programs successful which the champion founders and startup teams from astir the satellite volition beryllium brought to New York City, with accommodation and question costs covered.
The teams which use and are accepted into the programme volition person a guaranteed concern of $250,000. One squad volition beryllium chosen by a sheet of judges to person an further $500,000 of backing during the objection time astatine the extremity of each program.
The programs volition hap 4 times per year, with the archetypal present unfastened to applications and acceptable to footwear disconnected successful April adjacent year.
Kelly Brewster, the CEO of Wolf, pointed to one-on-one mentorships and entree to a scope of specialists arsenic further benefits of the program.
Working alongside experts from Wolf, Stone Ridge, NYDIG, and beyond, founders volition get funding, one-on-one mentorship, and entree to specialists successful bitcoin, cryptography, regulation, engineering, branding, marketing, sales, and more.
— Kelly Brewster (@kbbrewster) October 26, 2022Despite macroeconomic headwinds and a immense driblet successful the terms of Bitcoin (BTC), the Lightning Network has continued to spot accelerated maturation successful its capableness implicit the past year, precocious breaching the 5,000 BTC threshold aft having lone hit 4,000 BTC successful June.
Bitcoin Lightning Network capacity. Source lookintobitcoin.comRelated: CashApp adds enactment for Bitcoin Lightning Network
The Lightning Network is simply a layer-2 solution built connected apical of Bitcoin that allows users to nonstop satoshis, the smallest magnitude of Bitcoin tin beryllium divided into, with greater speeds and little fees.
The Taro protocol is simply a Taproot-powered protocol designed by the Bitcoin software steadfast Lightning Labs, which allows assets issued connected the Bitcoin blockchain to beryllium transferred to the Bitcoin Lightning Network.
In different words, Taro allows the Lightning web to go a multi-asset web with Bitcoin astatine its core.
According to information from 1ml, astatine the clip of penning the network's capableness is presently sitting astatine 5,140 BTC, representing a 5.43% summation implicit the past month, and median transaction fees are good nether 1 millionth of a cent per satoshi.
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