David Marcus, head of Facebook's (renamed Meta) cryptocurrency project Diem, announced his new blockchain initiatives to the world.
Marcus, who previously served as a manager at PayPal, a payment service, took an important step for Lightspark, the blockchain company he founded.
Thrilled to unveil the @Lightspark Platform today. 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… pic.twitter.com/6YJERkAYr8
— David Marcus (@davidmarcus) April 11, 2023
Launching Lightspark with a statement on Twitter, the crypto expert emphasized that the internet world needs an innovative payment protocol. Lightspark, which collected investments last May, received a fund worth 175 million dollars.
The fledgling payment platform is first creating new software products to improve the current state of the Bitcoin network Lightning Network.
"Unable to Apply Lightning Network"
Although the Lightning Network, which makes payment transactions on the traditional Bitcoin network faster and cheaper, is an excellent idea, according to Marcus, it cannot be implemented in practice. The company wants to make the network easier to use by offering different pricing based on volume.
By eliminating the complex interfaces of the crypto world, Lightspark will appeal to its customers from a more simplified tableau.