Monday, May 29, 2023

Former PayPal President to dedicate himself to the development of BTC

Former PayPal president David Marcus has shown his enthusiasm for blockchain technology (again), stating that he will spend the rest of his life building bitcoin, specifically the Lightning Network. The former leader of Meta Digital Finance and cryptocurrency companies is making a move into the crypto world.

Marcus’ technology infrastructure company, LightSpark, launched in 2022, introduced a network for the Bitcoin Lightning Network, designed to bring businesses onto the platform. In addition, he was involved in the creation of Diem, a Facebook crypto product that failed to attract US regulators after his skepticism.

Meanwhile, celebrities like David Marcus showing their dedication to blockchain technology means a lot to cryptocurrency enthusiasts. For example, @TajoCrypto said that bitcoin needs more people like Marcus. PayPal’s Ex-Chairman Believes Bitcoin and Lightning Network Are right answer for the world.

Compender la lightning network

The Lightning Network is a Layer 2 solution that uses a micropayment network to enhance competition from the Bitcoin blockchain and ensure cheap and efficient transactions. The technology solves the loophole associated with bitcoin by introducing off-chain transactions.

Bitcoin’s creators envisioned the pioneering crypto as a P2P electronic cash system, meaning users would be able to conduct transactions without intermediaries. Meanwhile, they only focused on those aspects, forgetting about scalability and transactional performance.

While this was not a huge challenge in the early days of bitcoin, it became a problem as the years went by. This was commonly referred to as the blockchain trilemma, as blockchain developers had to balance security, decentralization, and scalability.

Bitcoin price outlook

The crypto market continues to experience positive growth, although prices are yet to reflect this with a steady increase. For example, bitcoin remains below the $28K barrier. However, the crypto community remained bullish on the market and predicted an upcoming bull run.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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