Bitcoin startup Lightspark launches

Monday 16 May 2022 11:26 CET | News

David Marcus, who was known for heading crypto and digital finance operations of Meta (formerly Facebook), has unveiled his new startup, Lightspark.

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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Keywords: cryptocurrency, product launch, startup, digital currency, Bitcoin
Categories: DeFi & Crypto & Web3
Companies: Lightspark
Countries: World
This article is part of category

DeFi & Crypto & Web3


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