pull down to refresh

*Spark TLDRdocs.spark.money/spark/spark-tldr
54 sats \ 5 comments \ @OT 2 May bitdevs
This was brought to my attention last night and I thought it could be an interesting way to scale bitcoin today.
Spark is an off-chain scaling solution that builds on top of Statechains to enable instant, extremely low fee, and unlimited self-custodial transactions of Bitcoin and tokens while also natively enabling sending and receiving via Lightning.
Spark is not a rollup, nor a blockchain. There are no smart contracts nor VM. Spark is native to Bitcoin and its payments-focused architecture, enabling on-chain funds to be transacted at any scale, with near-instant speeds, and at virtually zero cost.
It took me by surprise as I always thought that Spark were working on LN. I believe they are a service provider for Coinbase. I'm sure there must a catch when something seems too good to be true.
write
preview
related posts
20 sats \ 4 replies \ @justin_shocknet 2 May
It's another trust-smuggling fake L2... they came up with this crap to handwave the cases where people don't have or can't yet afford a channel.
It's the same mental gymnastics retards that call ecash self-custodial do.
delegating on-chain funds
Scammer linguistics, translates to custodial
reply
0 sats \ 3 replies \ @OT OP 2 May
I'm a bit skeptical of the company but I quite like the idea. A shared UTXO is at least partial ownership.
Of course having 40 sats in a shared UTXO closing and going to chain would essentially be worthless but I think the idea is worth exploring more.
reply
0 sats \ 2 replies \ @justin_shocknet 2 May
shared UTXO
Don't make me tap the sign https://stacker.news/search?amount=&q=%40justin_shocknet+shared+utxo
reply
0 sats \ 1 reply \ @OT OP 2 May
Isn't LN pretty much a "shared" UTXO?
It functions like one.
reply
0 sats \ 0 replies \ @justin_shocknet 2 May
No, can dig through the priors for that one
tldr; the two peers in channel "point" are defining their own UTXO... that's the beef people have with Lightning, poors that can't afford their own UTXO can't use it
reply