Jameson Lopp Is The New CTO Of The Cryptocurrency Startup Casa

Bitcoin veteran Jameson Lopp is now the CTO of Casa. The information was released by the company to CoinDesk a few hours ago. Lopp started working at the crypto custody solutions startup as an infrastructure engineer just eight months ago.

In this way, Lopp will be focusing on making sure that the company complements its premium vault service with a waiting list of Bitcoin users. Vault services have a cost of $10,000 dollars per year and the list of Bitcoin users has already reached more than 100 participants.

It is important to mention that the company is already sold over 500 Casa Lightning Nodes. These devices allow the Lightning Network to expand and provide better services.

Lopp explained that Casa has already shipped the first batch. Moreover, he expects the sales to continue growing in the future at the pace that they have been. If everything continues as planned Casa would account for almost 25% of all the Lightning nodes available.

At the time of writing, the number of nodes available in the Lightning Network is 4,037. Furthermore, the network has a capacity of 123 BTC and there are almost 12,000 open channels.

The Lightning Network is the second layer scaling solution that is being developed for Bitcoin (BTC). Bitcoin has experienced some scaling issues that led developers to improve the network with an off-chain solution.

However, operating a Lightning node requires users to know a lot about computers. Is not easy to do for individuals without the required knowledge. This is why Casa is selling these easy-to-operate nodes. Users just have to plug them in and start synchronizing the network and start operating a Lightning channel.

Lopp commented about it:

“This is the ultimate level of self-sovereignty where you are yourself validating everything yourself on the device sitting there in your house.”

Because he wanted to offer self-sovereign technical solutions accessible he joined the company. Before, Lopp was working in the startup BitGo that focuses on institutions.

Lopp explained that individuals can trust a third party if they want to do so. However, the blockchain and crypto world promotes decentralization and users to be their own bank.

“Having a non-custodial wallet where each user is their own bank is the first step of that,” he mentioned.

The vault service offered by Casa was launched during the last summer. It includes a mobile application that works with a hardware wallet. Both, Trezor and Ledger, are supported devices. Casa holds one of five keys as an emergency backup while users hold other four keys. This is known as a multisignature storage system.

In order for a user to complete a transaction, it would be necessary to include three out of the five keys available. That means that if the hardware wallet is stolen, the user will have its money stored in a very safe way.

At the same time, Casa focuses in order to help subscribers manage long-term bitcoin storage. This is also related to inheritance planning and hardware wallet protection.

Lopp explained that he is working in order to merge together best practices that are hard to understand. The company aims to package all the solutions in a way that is simplified.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

214 +