Feb 5, 2020 20:45 UTC
Feb 5, 2020 at 20:45 UTC
The day to day development that we see in the Blockchain space is really amusing and intriguing. With a lot of companies trying to get a grab of the actual situation, it is entirely becoming a much larger competitive space than it was before. During the inception of development in Blockchain technology, there were few companies that put their time and dedication towards the development in the field. But as the fruits of the tree started to taste like nectar, the number of startups that kick-started based on the concept was entirely huge.
Lightning labs surely to bolt!
One such company that is successful in implementing the same in the field is definitely lightning labs. The company started off well in the beginning and the momentum just went electric as the days went by. The company right now stands at a position where it is $10M dollars rich from where it was yesterday. After a successful and victorious series A funding, the company had a good ride at the start of the year.
With such classy deals in place on the companies trajectory, the company aims to divert those funds towards the development of the transaction technology that the company has on its dashboard to date.
There are a lot of other projects that the company wants to get movement to and the plans are currently moving around the companies boards on how to split the fundings on an equal share to felicitate such development.
The main aim behind the company is to make sure that the bitcoin transactions are lightning-fast facilitating more and quicker payments. The CEO of Lightning Labs, Elizabeth stark said that the team of lightning labs is entirely grateful for such a series of funding and says that it is mainly due to the large and broader mindset that the company is still facing.
The company is not stopping there, it has got a lot of other exciting projects as well on the pipeline and one of them rolled out today, the Lightning Loop. the current version is the beta version of the product. Being the flagship commercial project of the company, the product is expected to help start-ups and end-users in the lightning network to operate more efficiently and effectively. Non-Custodial transfer between networks is one of the key highlights behind the loop.
If Loop and the projects in the pipeline of lightning labs were to work out, it will definitely be a steal for the company in terms of market value.