David Marcus Launches Bitcoin Payments Startup Lightspark – Bitcoin News
David Marcus, former cryptocurrency head at Meta, is launching Lightspark, yet another payments company that will use crypto as its central payment tool. The startup, which will have Marcus at the helm as CEO, also features some of Meta’s previous staff members and will discover the options of utilizing the layer 2 Lightning Network (LN) as a vehicle for bitcoin payments.

Meta’s Previous Crypto Boss Kickstarts Lightspark

David Marcus, former cryptocurrency undertaking manager at Meta, is doubling down on the value he thinks crypto might have for payments in the upcoming. Marcus introduced this week on social media he and others were being launching a cryptocurrency corporation named Lightspark that aims to harness the abilities of crypto for the payments region.

Marcus is not by yourself in this job. He took on some of the former Meta workforce for this startup. When the particulars of the corporation are continue to scarce, Marcus spelled out that Lightning Network (LN), the 2nd layer scalability protocol for Bitcoin, will be associated. On this, he mentioned:


As a very first stage, we’re actively assembling a team to dive deeper into the Lightning Network.


Whilst the corporation is even now in exploratory phases, Marcus has been capable to attract major names in the VC arena, such as A16z and Paradigm, who have co-led an first investing spherical with an undisclosed total lifted. Other VCs that participated in the spherical include things like Prosper Money, Coatue, Felix Capital, Ribbit Capital, Matrix Partners, and Zeev Ventures.


Bear Industry and Lightning Network

To some, the timing of the launch of Lightspark may well not be the best, as the market faces a downturn with the collapse of the Terra ecosystem and the drop of the inventory market. Nonetheless, Marcus brushed off these responses on social media outlining that:


Downturns are good times to aim on developing and creating worth with mission-aligned people. We’re psyched to dive into Lightning, study a lot more, and work together with the community.


Lightning Network, with its negligible transaction service fees, can be quite beautiful for a payments firm, nevertheless it has not been with no criticism in the crypto group. The technology, that was proposed again in 2015, has arrive a extensive way considering that its start, getting now 3,807.15 BTC stored in its program, with extra than 17,000 energetic nodes, according to 1ML, a Lightning Community stats web-site.

What do you feel about Lightspark, the freshly released crypto payments corporation? Notify us in the comments segment beneath.

Sergio Goschenko
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