Spark is betting that Bitcoin can be fast, cheap, and stablecoin-friendly—without bridging, wrapping, or smart contracts. Using Statechains, it moves BTC-native assets offchain fast and cheap, bypassing bridges and complex contracts. Here’s how the project's design could change Bitcoin’s L2 landscape.👇 ~~ Analysis by @wmpeaster ~~ @spark isn’t a typical L2. It’s a distributed ledger built as a shared signing protocol. Moving funds means temporarily delegating signing rights, while assets remain as Bitcoin UTXOs. On Bitcoin’s mainnet, Spark appears as multi-sig outputs. Spark Operators (SOs) co-sign transfers with users but can’t move funds alone. Before depositing, you create a pre-signed exit back to your address. If operators fail or act maliciously, you can broadcast it and withdraw. Time locks ensure the current owner has the earliest exit, and watchtowers prevent fraud. Safety requires only one honest operator, and keys are discarded after handoffs. For non-BTC assets, Spark uses BTKN — a tokenization scheme adapted from Lightning’s LRC-20 but redesigned for Spark. Issuers can mint, transfer, freeze/unfreeze, and burn assets like stablecoins without smart contracts or external wrapping. BTKN balances live as metadata tied to Spark outputs, with plans to allow unilateral BTC-style exits. Spark’s Wallet and Issuer SDKs target Bitcoin app builders, but payments remain the core. Spark-to-Spark transactions are near-instant and near-free, Lightning bridging is supported, and L1 exits cost standard Bitcoin fees. Spark is in mainnet beta with two operators (Lightspark and Flashnet). SDKs are early, and throughput takes a back seat to correctness. Early projects include: ➢ @blitzwalletapp — self-custody wallet ➢ @brale_xyz — stablecoin issuance ➢ @guap_app — Bitcoin payments app ➢ @luminexio — Bitcoin asset launchpad ➢ @MEonBTC — Bitcoin DEX integrating Spark ➢ Sparkscan — Spark block explorer ➢ @walletofsatoshi — Lightning wallet using Spark Spark treats BTC as digital cash, not just digital gold. It’s self-custodial, Lightning-aware, and built for usable stable value on Bitcoin. With more issuers, hardened operators, and stronger app partnerships, it could become a leading rail for instant BTC and dollar payments.