Bolt Labs raises $1.5M to boost Lightning privacy

posted about 1 month ago
Academic researcher Dr. Ayo Akinyele is working on a cryptographic solution to boost privacy across second-layer blockchain solutions like the Lightning Network for Bitcoin.
Akinyele just announced the formation of Bolt Labs, named after the BOLT protocol that aims to give Lightning hubs shielded addresses for anonymous payment channels. The startup is launching with a $1.5 million seed round led by Dekrypt Capital.

Akinyele said “The initial balance of the channel is hidden, and now when you make a payment from this channel, no one can link you to that payment unless you disclose the information.” Akinyele mentioned a future goal is to enable the Bolt protocol to work on top of Bitcoin. Dekrypt Capital co-founder Howard Wu said these types of features will be essential for cryptocurrency payments to spread given surveillance capitalism’s proliferation.
Tags: blockchain, bitcoin, news