IOV Labs, a startup that constructs financial solutions based on Bitcoin’s blockchain, has introduced another layer of scaling. “IOV Labs announced the launch of its Light Client for the Lumino Payments Network, a third-layer Bitcoin scaling solution,” said a statement provided to Cointelegraph, which added: Lumino Payments Network enables off-chain payment capabilities for any current or future ERC20-compliant token deployed on the RSK and RIF blockchain networks.” Bitcoin-based decentralized finance Ethereum made a name for itself as a smart contract-enabled network primed for project building. Thanks to a sidechain solution…