Former PayPal President's new company Lightspark announces Bitcoin Lightning Network product suite

2023-04-12 08:52:05

Collection

ChainCatcher news, former PayPal president David Marcus's new startup Lightspark announced a suite of Bitcoin Lightning Network products on Tuesday, built on the Bitcoin network's Lightning Network.

The Lightspark products allow users to integrate their platforms to support instant Bitcoin transactions on the Lightning Network. Specifically, it eliminates the need for Lightning Network node operators to manually balance inbound and outbound transactions. Lightspark claims it is the "first enterprise-grade entry point for the Lightning Network." Marcus believes that building the necessary tools to make the Lightning Network easier to use, due to Bitcoin's relative scale and a more secure regulatory foundation, is a better path than relying on alternative blockchains.

According to a knowledgeable source who wished to remain anonymous, Lightspark completed approximately $173 million in funding last year at a valuation of nearly $1 billion.

Previously reported last May, Lightspark completed a funding round led by a16z and Paradigm, but the specific amount was not disclosed at that time. (The Block)

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.