The potential of a human being surely knows no bounds, but to make the most of it under real-world circumstances, we need much more at our disposal. For instance, we must have an idea about harnessing our skill-set in such a way that it suits the ever-changing nature of our environment. Now, this is easier said than done, so as a way of helping our cause, we would develop certain avenues along the way. Considering all these avenues were given a distinct nature, each one went on to play a pivotal role in fuelling the human growth over time. However, when you really cut into the thick of it, you’ll see how none of them did it quite like technology. Technology gets to be the ultimate winner here, because it introduced a dimension within our existence that we didn’t even know was conceivable. By doing so, it changed the world’s entire perspective on progression, and honestly, it was all for a good reason, as the experiences we got under the new outlook will inspire us to become the smartest generation in human history. Even after getting there, though, our search for greater experiences is going to continue, and one recent funding does a lot to prove it.
Bitcoin developer, Lighting Labs has successfully secured over $70 million in Series B financing. Led by Valor Equity Partners, the round saw further participation coming from the likes of Baillie Gifford, Robinhood CEO Vlad Tenev, Goldcrest Capital and many others. According to Decrypt, the company will use the cash injection to support its new protocol called Taro, which is specifically designed for handling stablecoin transactions. Further reports go on to talk about what sort of impact Taro will have on Lighting’s bitcoin network. At the moment, Lighting Network is capable enough to facilitate five transactions per second, but with Taro’s addition, the said figure should reach well into thousands without making any alternations to the timeframe. Beyond that, the new protocol allows you to send and receive stablecoins, even if the user decides against entering their bank account details.
“If I were Visa, I’d be scared, because there are a lot of people out there that have mobile phones, but now don’t need to tap into the traditional system, and then the merchants don’t need to pay the 3% fee plus 30 cents [for a transaction]. You can have fees that are dramatically lower than the legacy system,” said Elizabeth Stark, co-founder and CEO at Lightning Labs.
Having raised $10 million in Series A and a sum of $2.5 million in seed funding, the latest round takes Lighting’s total haul to a sizeable $82.5 million.