Blockchain Startup Lightning Labs Secures $2.5M in Seed Funding

Bitcoin and cryptocurrencies are big money at the moment and you can even buy bitcoin with paypal, making it more accessible than ever. And because it’s such big money, Silicon Valley is looking for any opportunity to capitalize. You might even want to invest in Bitcoin yourself because it’s set to become the next big investment opportunity – many other investors have already taken the leap. If you don’t know much about crypto then we would suggest looking into the different currency options as well as other people’s Bitcoin Prime Ervaringen because you will then have a better understanding of the sector. However, it’s not just Bitcoin that’s getting more investments, the platforms and tools that make crypto trading and selling possible are also getting more investments. Many Silicon Valley investors are putting their money behind blockchain start-up Lightning Labs. The company announced that it has raised $2.5 million in seed funding to date from numerous big names in payments and beyond, including Square and Twitter co-founder Jack Dorsey, Square exec Jacqueline Reses, serial-founder-turned investor David Sacks, Litecoin creator Charlie Lee, Eventbrite co-founder Kevin Hartz, BitGo CTO Ben Davenport and Robinhood co-founder Vlad Tenev, along with The Hive, Digital Currency Group and others.

Lightning Labs CEO Elizabeth Stark says Lightning functions as a software layer that sits on top of the bitcoin network.

This week was the first Lightning beta release on the bitcoin network. “Lightning will be rolled out first to advanced users and developers … and then broader users,” Stark said.

According to this cryptocurrency exchange, more than 1,800 developers are part of her company’s Slack channel and that thousands of volunteers helped Lightning’s seven-person team find glitches in the alpha version of its open-source software.

“One thing we’ve learned is that it can be hard to predict bitcoin fees in advance, and there may be large swings, so having a solution like Lightning with very low fees on the network is key,” said Stark. “You still pay on-chain bitcoin fees when getting on or off of Lightning, but that may happen infrequently, like once a month or year.”

Further, Lightning can allow users to take advantage of low bitcoin fees when they are cheap, while often avoiding fees when they’re high, thus actually helping to stabilize on-chain bitcoin fees in the future,” Stark said.

In addition, to things like Bitcoin Era legal software, it should make it easier to navigate through Bitcoin with these low costs to create a higher profit in the end. Understanding Bitcoin and other similar cryptocurrencies could be difficult and trading in them, without proper knowledge about the consequences of the same, could prove to be a risky gamble. Online resources available all over the web could help you in your journey to invest in this domain. After you have gained enough knowledge about the same, you could look at Bitcoin trading websites such as Independent Reserve, or similar others who tend to make investing, buying, and selling of the said cryptocurrency easier.

Lightning Labs’s technology is available on desktops only, with a mobile version coming soon.

Source: This article originally appeared in CNBC