Is Bitcoin the Only Viable Settlement Asset? Lightspark CEO Thinks So
According to Lightspark CEO David Marcus, Bitcoin is the only feasible neutral settlement asset and network for bringing in a new era of global real-time payments. Marcus, who co-created Libra, categorically rejects alternative cryptocurrencies, labeling them as too centralized and lacking security and regulatory clarity.
In contrast, Marcus acknowledged that Bitcoin lags behind in technical performance when compared to Ethereum and Solana. While Solana processes over 4,300 transactions per second, Bitcoin can only handle seven. However, Marcus believes that scaling Bitcoin through the Lightning Network is the way forward, as it maintains the network’s trust and security principles.
Marcus also recognizes that the Lightning Network has its challenges, such as the vulnerability to fund embezzlement through a flaw known as “replacement cycling attacks.” Despite this, Marcus remains optimistic about the potential efficiency of the Lightning Network.
Hot Take: Is Lightning Network the Future of Bitcoin?
While Marcus sees the Lightning Network as the key to Bitcoin’s future, concerns about security vulnerabilities and scalability persist. Whether Lightning Network can address these challenges could determine Bitcoin’s long-term viability as a global settlement asset.
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