Meta Launches LightSpark to Reenter the Digital Currency Market

Day by day, cryptocurrency is gaining popularity throughout the world. Every firm and institution over the globe is thriving to invest in cryptocurrency and some are even trying to build their own cryptocurrency and enter the cryptocurrency market.

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The tech giant Meta is not so different in terms of this topic.
Meta has been relentless in entering the cryptocurrency market and it is also supposed to create its own stablecoin. Earlier Meta was thinking of building several stablecoins for several areas of the world. But after a series of discussions, it dropped the idea of making several stablecoins and started planning to create one stablecoin which was named Libra.

Libra debuted in June 2019 and became the center of attraction but it quickly got into trouble. After the outcry, the high-profile members of Libra went back.
In 2020, Meta tried to return by changing the name from Libra to Diem. Sooner it also started facing regulatory backlashes and it again failed Meta’s dream.

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But after years of efforts, Meta finally launched LightSpark. There are several firms interested in leveraging Bitcoin’s Lightning Network. And LightSpark will help those firms in building the backend infrastructure. Despite initial avoidance, it quickly got noticed.

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Anupama Das

An active reader and follower of news. A budding journalist tries to spread authentic news to people.

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