Ethereum-Based DEX Operator Rolls On A Lightning Network App Store
Radar, a cryptocurrency startup renowned for operating a decentralized exchange on the Ethereum network, has introduced an app store that brings together apps developed on the Lightning Network.
According to the firm’s CEO Alan Curtis, the aim of his firm is to become the homepage of the Lightning Network. Curtis explained that Radar’s new platform lets users discover new applications built on Bitcoins layer-two scaling solution and use them through Radar using a single payment channel.
The move follows Radar releasing its ION platform, which included various tools designed to help onboard users onto the Lightning Network. These include a configuration helper to set up a node on the network, an invoice ‘playground’ to help users test their nodes, and a liquidity tool to help out with receiving payments.
Radar introduced the Radar ION platform in March this year, that contains essential information for lightning clients which comprises of news, developer tools, announcements, and tutorials. The app store is set to enhance this provision hoping that it will attract extra clients to the Lightning Network and enable app engineers to exhibit their apps.
Speaking to TheBlock Curtis stated that his company’s enhancement to the lightning technology is a portion of its efforts to have it own unique blockchain network.
“ION isn’t a pivot; we've identified the Bitcoin Lightning Network as a promising technology (with nearly free and near-instant payments) and launched ION as our second product earlier this year. The ION App Store is an expansion towards our efforts in becoming the Homepage of the Lightning Network.”
Radar made headlines earlier this year after raising $10 million from the Digital Currency Group, Blockchain Capital, and others. The company is set to keep focusing on Bitcoin’s scaling solution.
The decentralized exchange is built on the Ethereum network and enables peer-to-peer transfer of ERC20 tokens. Over the last two years, the exchange has surpassed the $250 million mark in transaction volumes, and last month it clocked its peak monthly volumes of $17 million.