LNbits is a groundbreaking company founded by Ben Arc in 2019 as a project, with the company officially established in 2022. Based on a vision of creating free and open-source software that works with any Lightning Network funding source, LNbits offers a range of extensions for personal and business use cases. With a fully remote team, mainly based in Europe, LNbits has quickly become a key player in the Bitcoin and Lightning space.
The initial spark for LNbits came to Ben Arc during a visit from developer Christian Russo, who inspired him to create a project that could sit on top of any funding source. This led to the development of a point of sale (PoS) extension for the now-closed Bitcoin bar Room 77 in Berlin. The success of this project laid the foundation for LNbits, a versatile platform that simplifies the process of creating different versions of projects for various node implementations.
Over the years, LNbits has attracted some of the brightest developers in the Bitcoin and Lightning community, forming a talented team akin to the Wu-Tang Clan of developers. With contributions from developers like Calle, fiatjaf, Pavol Rusnak, and others, LNbits has evolved into a powerful tool for businesses and individuals alike.
Realizing the potential of LNbits, Ben Arc decided to establish the company to provide funding for development work. The company model is similar to WordPress.org and WordPress.com, where the open-source software is managed by the company. By securing approximately $1 million in investment from venture capitalists, LNbits has been able to continue its development while remaining true to its open-source roots.
As LNbits prepares to release version one, the focus is on incorporating funding and swapping services to enhance the platform’s functionality. With features like PhoenixD for funding, the Breez SDK, and trustless Atomic Swaps with Boltz, LNbits is positioning itself as a reliable and innovative solution for the Lightning Network ecosystem.
Looking ahead, Ben Arc and the LNbits team are excited about the future possibilities for the platform. With a focus on creating educational content and expanding integration with technologies like Nostr, LNbits aims to empower developers and businesses to leverage the Lightning Network to its full potential. As version one goes live, the team is eager to see what the next five years hold for LNbits and the groundbreaking projects that will emerge from this dynamic platform.