After a long time, I'm once again starting to believe that Bitcoin could be used for everyday payments in the future, not just as a store of value. This is thanks to an interesting project called Spark (@spark). Of course, we've had the Lightning Network for payments for many years—and while I'm a big fan of that layer, let's be honest: it works really well only in a custodial setup. If a user wants to hold their own keys and be fully self-sovereign, the user experience isn't great—mainly due to channel liquidity management, the inability to receive payments offline, capital inefficiency, and overall complexity. Many of these issues are addressed by Spark from @lightspark. It's a new second-layer protocol on Bitcoin, built on an improved concept of statechains, with a primary focus on payments. What can you expect? Extremely fast and cheap Bitcoin transactions without the need for payment channels or complex liquidity management. And all this while maintaining private key ownership—full self-custody. Spark is also compatible with the Lightning Network, meaning it can be used to pay any LN invoice. This means these layers don't compete but can work together. And there's more: Spark supports stablecoins. For the first time, I believe this protocol could actually bring stablecoin transactions back to Bitcoin. Like it or not, stablecoins are poised to grow as a medium of exchange in the coming years, and enabling them to move on the most neutral and decentralized network is great news for their future adoption. So, what's the catch? Has Spark prioritized ease of use over security? Personally, I'd say it has found the right balance, considering current technological possibilities and its specific focus. The only moment that requires some degree of trust is during transaction sending. However, as long as at least one operator (or a defined threshold) behaves honestly, your funds are completely secure, and you no longer need to trust anyone. Besides, this layer isn't meant for holding large amounts of funds but primarily for payments. I personally recommend keeping an eye on Spark, as I believe it could become one of the main players in digital payments in the coming months.
Translation by Grok
