{"id":248875,"date":"2020-02-05T22:22:18","date_gmt":"2020-02-06T03:22:18","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=248875"},"modified":"2021-08-19T14:50:47","modified_gmt":"2021-08-19T18:50:47","slug":"lightning-labs-raises-10-million-to-improve-lightning-network-technology","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/lightning-labs-raises-10-million-to-improve-lightning-network-technology","title":{"rendered":"Lightning Labs Raises $10 Million to Improve Lightning Network Technology"},"content":{"rendered":"<p>Lightning Labs, the Bitcoin-focused startup looking to improve the Bitcoin network via its Lightning Network technology, has brought in $10 million to build what it considers &#8220;the Visa network for Bitcoin,&#8221; <a href=\"https:\/\/www.forbes.com\/sites\/michaeldelcastillo\/2020\/02\/05\/jack-dorsey-backed-lightning-labs-raises-10-million-to-build-visa-network-for-bitcoin\/#513b50ad5ede\">according to Forbes<\/a>.<\/p>\n<p>This $10 million is thanks to an investment round that includes Craft Ventures, a former executive from Goldman Sachs, and many more. That&#8217;s not to mention previous funding rounds from the likes of Bitcoin fanatic and Twitter CEO Jack Dorsey or the creator of Litecoin, Charlie Lee.<\/p>\n<p><a href=\"https:\/\/insidebitcoins.com\/news\/first-bitcoin-mainnet-lightning-network-client-goes-live-for-developers\/113822\">Lightning Labs launched its test network in 2018<\/a>, and developers from all over the world have since added on to it, all trying to make Bitcoin more of a scalable technology for its users.<\/p>\n<p>Since then, Dorsey&#8217;s Square Cash company has been pushing the network forward with its recent <a href=\"https:\/\/insidebitcoins.com\/news\/square-crypto-debuts-lightning-network-kit\/247762\">Lightning Network development kit<\/a>, and the CEO of BitPay has even <a href=\"https:\/\/insidebitcoins.com\/news\/bitpay-ceo-hints-at-using-lightning-network-in-the-future\/248696\">hinted at that group utilizing it going forward<\/a>. In late 2019, <a href=\"https:\/\/insidebitcoins.com\/news\/bitpay-ceo-hints-at-using-lightning-network-in-the-future\/248696\">Bitfinex also became the first exchange to utilize the Lightning Network<\/a> as well.<\/p>\n<p>Finally, today Lightning Labs announced that it would be launching Lightning Loop, a service that will help them monetize the Lightning Network by streamlining the process that allows other startups to take advantage of the network.<\/p>\n<p>\u201cWe\u2019re building the Visa network for bitcoin,\u201d said Lightning Labs CEO Elizabeth Stark. \u201cBut what I think is powerful, is unlike Visa, anybody can build on top of it.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">Lightning Labs, the Bitcoin-focused startup looking to improve the Bitcoin network via its Lightning Network technology, has brought in $10 million to build what it <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/lightning-labs-raises-10-million-to-improve-lightning-network-technology\" title=\"Lightning Labs Raises $10 Million to Improve Lightning Network Technology\">[&#8230;]<\/a><\/div>","protected":false},"author":1722,"featured_media":45553,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[734,8927,7692],"class_list":["post-248875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-more-crypto-news","tag-bitcoin","tag-lightning-labs","tag-lightning-network"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - 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