2 years ago
David Marcus, erstwhile cryptocurrency caput astatine Meta, is launching Lightspark, different payments institution that volition usage crypto arsenic its cardinal outgo tool. The startup, which volition person Marcus astatine the helm arsenic CEO, besides features immoderate of Meta’s erstwhile employees and volition research the possibilities of utilizing the furniture 2 Lightning Network (LN) arsenic a conveyance for bitcoin payments.
Meta’s Former Crypto Boss Kickstarts Lightspark
David Marcus, erstwhile cryptocurrency task brag astatine Meta, is doubling down connected the value helium thinks crypto mightiness person for payments successful the future. Marcus announced this week connected societal media helium and others were launching a cryptocurrency institution called Lightspark that aims to harness the capabilities of crypto for the payments area.
Marcus is not unsocial successful this task. He took connected some of the erstwhile Meta employees for this startup. While the details of the institution are inactive scarce, Marcus explained that Lightning Network (LN), the 2nd furniture scalability protocol for Bitcoin, volition beryllium involved. On this, helium stated:
As a archetypal step, we’re actively assembling a squad to dive deeper into the Lightning Network.
While the institution is inactive successful exploratory phases, Marcus has been capable to pull large names successful the VC arena, including A16z and Paradigm, who person co-led an archetypal investing circular with an undisclosed magnitude raised. Other VCs that participated successful the circular see Thrive Capital, Coatue, Felix Capital, Ribbit Capital, Matrix Partners, and Zeev Ventures.
Bear Market and Lightning Network
To some, the timing of the motorboat of Lightspark mightiness not beryllium the best, arsenic the marketplace faces a downturn with the collapse of the Terra ecosystem and the autumn of the banal market. However, Marcus brushed disconnected these comments connected societal media explaining that:
Downturns are bully moments to absorption connected gathering and creating worth with mission-aligned people. We’re excited to dive into Lightning, larn more, and enactment alongside the community.
Lightning Network, with its negligible transaction fees, tin beryllium precise charismatic for a payments company, though it has not been without disapproval successful the crypto community. The technology, that was projected backmost successful 2015, has travel a agelong mode since its launch, having present 3,807.15 BTC stored successful its system, with much than 17,000 progressive nodes, according to 1ML, a Lightning Network statistic site.
What bash you deliberation astir Lightspark, the recently launched crypto payments company? Tell america successful the comments conception below.
Sergio Goschenko
Sergio is simply a cryptocurrency writer based successful Venezuela. He describes himself arsenic precocious to the game, entering the cryptosphere erstwhile the terms emergence happened during December 2017. Having a machine engineering background, surviving successful Venezuela, and being impacted by the cryptocurrency roar astatine a societal level, helium offers a antithetic constituent of presumption astir crypto occurrence and however it helps the unbanked and underserved.
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