Tech Brew Ride Home (Bonus) David Marcus And Lightspark
Apr 8, 2024
David Marcus, CEO and founder of LightSpark and former Meta and PayPal executive, dives into his ambitious plans for the Lightning Network and Bitcoin. He discusses how LightSpark's technology aids Coinbase in improving transaction efficiency for users. The conversation highlights global payment innovations, including the Universal Money Address, aimed at simplifying currency exchange. Marcus also shares insights on partnerships within the crypto sector and the future of decentralized social networking, emphasizing the potential for economic growth in the gig economy.
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Lightning Network Explained
- Lightning Network is a layer-two protocol on Bitcoin, enabling real-time, low-cost transactions.
- It bypasses Bitcoin's slow layer-one confirmation times, making transactions nearly instantaneous.
Bitcoin Transfer Experience
- Transferring Bitcoin from Coinbase involves copying and pasting a Layer 1 address, waiting anxiously for confirmation.
- With Lightning, a Lightning invoice is pasted, and Bitcoin appears in the other wallet almost instantly.
Lightspark's Mission
- Lightspark aims to build an open money grid for moving assets like fiat currencies and stablecoins using Bitcoin and Lightning.
- Connecting major institutions is crucial for on and off-ramps to this network.