Former PayPal president launches project to boost institutional adoption of Bitcoin

David Marcus is a household name in the tech space. In addition to more than 7 years at Facebook, where he was responsible for Messenger and later the co-creation of the Diem cryptocurrency, he also served as president of PayPal for three years.

More recently, the director also joined the board of Nubank. However, his main focus is on Bitcoin.

This Tuesday (11) Lightspark, the company founded by Marcus in April 2022, finally launched its product linked to Bitcoin’s Lightning Network. The announcement was made through social networks.

“Today we are launching the Lightspark Platform. The first enterprise-grade access point to the Lightning Network. We believe Lightning will be the winning open payment protocol on the web.”

What is Lights Park?

In short, Lightspark is a solution aimed at institutions that want to take advantage of all the flexibility of the Lightning Network, a second-tier solution for Bitcoin. The biggest draw of the platform is its user-friendly interface, which should aid in the adoption of such technology.

In the interface, it is possible to switch the balance between Dollar (USD), Bitcoin (BTC) or Satoshi (SAT), the smallest digit of Bitcoin. Furthermore, it is also possible to add, withdraw, send or otherwise generate a payment request. That is, it is very intuitive and easy to use.

Lightspark platform
Lightspark platform, created by former PayPal president David Marcus.

However, being a product aimed at businesses, it’s worth noting that subscriptions to the service are expensive. The cheapest plan starts at $1,500 per month, rising to $9,000 for the second and $22,500 for the third and final plan.

The difference between the plans lies in the monthly transaction limits on the Lightning Network, which range from $300,000, $3,000,000, and $15,000,000 respectively.

However, users are open to using the trial version of Lightspark for free, where you can also find developer tools and guides.

“We believe that the internet urgently needs an open payment protocol. One that runs 24/7, installs in near real-time, is very cheap, interoperable and can be built by anyone”explained David Marcus, founder of Lightspark. “Money needs to move online like emails or text messages, and the Lightning Network has the best chance of becoming the standard protocol that makes that and more possible for everyone around the world.”

“Nowadays the complexity and steep learning curve of Lightning are gone. It’s now intuitive and easy to reliably send and receive payments over the network or create payment experiences without the limitations of old-school rails – hello, cash flows!”

Finally, many point out that the Lightning Network has not yet taken off due to its complexity. After all, it is still complicated for regular users to create channels and keep a safe backup.

However, the arrival of Lightspark should accelerate this cross-enterprise adoption process. Going further, this should also ensure that new small user-oriented solutions flourish in the market.

Source: Live Coins

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