Lightning Labs CEO Elizabeth Stark says Lightning functions as a software layer that sits on top of the bitcoin network. "If bitcoin is like a decentralized savings account, Lightning is a decentralized checking account where users can send money instantly," Stark told CNBC. This week was the first Lightning beta release on the bitcoin network. "Lightning will be rolled out first to advanced users and developers … and then broader users," Stark said. Bitcoin bull Dan Ciotoli of Bespoke Investment Group said earlier this year his bitcoin target of $20,000 to $30,000 was contingent on a number factors, including the integration of the Lightning network. Ciotoli told CNBC in January that bitcoin's high transaction cost is one of its main flaws.

https://www.cnbc.com/2018/03/15/jack-dorsey-among-backers-of-blockchain-start-up-lightning-labs.html