Bitcoin startup Lightspark launches
The company will focus on building use cases for Bitcoin. It will use the Lightning Network , a protocol that was developed for making smaller transactions on the Bitcoin blockchain. The protocol promises to make Bitcoin efficient for daily use, but even after years of its development, it is yet to hit the mainstream.
The startup further clarified that it will not develop any cryptocurrency or stablecoin.
The crypto startup has already received the backing of major investors, including a16z Crypto, Paradigm, Coatue and Matrix Partners, but the company did not disclose the amount it raised or the current valuation.
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