Lightspark, a newly-founded crypto infrastructure firm, has officially launched its Bitcoin Lightning Network implementation designed for enterprise-grade use cases.
Established in 2022, Lightspark was founded by former PayPal president and and Diem co-creator David Marcus. According to a Twitter announcement from the firm, it is the first "enterprise-grade entry point to the Lightning Network" forming and opening API integrations for businesses looking to create seamless payment channels through the Bitcoin Lightning Network.
Today we’re launching the Lightspark Platform. The first enterprise-grade entry point to the Lightning Network. We believe Lightning will be the winning open payment protocol on the Internet. Head to https://t.co/xMo8BjNRqu to get started. pic.twitter.com/Zv8xeqp3Il— Lightspark (@lightspark) April 11, 2023
As an open payment protocol initiative, Lightspark software development kits (SDKs) offer businesses an easier way to plug in and automate crucial tasks for LN (Lightning Network) integration. This then provides efficient routing at lowered costs, as well as providing a low-latency payments and liquidity engine for prospective clients.
"We believe the Internet badly needs an open payment protocol—one that works 24/7, settles in near real-time, is dirt cheap, interoperable, and open to all to build on. Money should move online like emails or text messages, and the Lightning Network has the best chance of becoming the standard protocol that enables that and much more for everyone around the world," Lightspark CEO and co-founder David Marcus shares.
The , which accelerates Bitcoin transactions, has often been hailed as the "missing component" required for mainstream adoption of the digital currency.
Current payment systems lag behind the rapid progress of the Internet, burdening businesses and consumers with hidden fees and sluggish transactions. Cross-border payments, in particular, suffer from these outdated systems. Built on , the Lightning Network has the potential to become the Internet's payment protocol. Such an open, low-cost, interoperable payment network settles transactions in real-time, allowing value to move as fluidly as data on the Internet.
However, existing Lightning products have proven difficult for individuals outside the Bitcoin ecosystem to comprehend. Lightspark claims that it will help hasten and simplify enterprise adoption of the Lightning Network.
"Today, the complexity and steep learning curve inherent to Lightning are gone. It's now intuitive and easy to reliably send and receive payments on the network or to build payment experiences without any of the constraints of antiquated rails," Marcus shares.
While it is squarely aimed at enterprise-grade use cases, the Lightspark SDK is available for all (with varying pricing tiers) through an . The firm will also be offering free access to Lightspark's services for select start-ups. Other crypto firms such as and Jack Dorsey's (via C=) have also been working on Lightning Network infrastructure and cross-functional integrations.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.