Lightspark CEO Highlights Challenges and Opportunities in Lightning Network Usage

David Marcus, the CEO of Lightspark, an institutional Lightning Network (LN) payment solutions provider, assessed the state of custodial and non-custodial transactions on Bitcoin’s Layer 2 scaling solution.

Marcus, emphasizing Bitcoin as the sole viable neutral settlement asset for a global payments network, noted the readiness of custodial LN for institutional use but acknowledged compromises in non-custodial scenarios. Lightspark aims to enable institutions and users to leverage the Bitcoin network with LN to avoid high fees and achieve near-instant transaction finality.

Despite the complexity, the company has developed tools for custodial scenarios, targeting impactful contributions in the short and medium term. Marcus highlighted challenges in non-custodial LN, such as offline payment reception and high fees for opening channels with smaller transactions, acknowledging tradeoffs in trustlessness. Despite these challenges, Marcus remains optimistic about Bitcoin’s potential to become the internet’s money protocol, poised for widespread adoption.

Clever Robot News Desk 24^th November 2023