Bitcoin-Powered Crowdfunding App Lighthouse Has Launched

Lighthouse, the bitcoin-powered crowdfunding application, has officially launched.
The beta version of the app, which developer Mike Hearn described as a specialized wallet for decentralized crowdfunding, is now publicly available for download.
The release follows months of development, which included an investment from noted bitcoin entrepreneur Olivier Janssens.
The app is designed to function as a streamlined tool for using smart contracts to commit pledges to particular projects, which can range from bitcoin development initiatives to charity drives. Currently, the only project available for Lighthouse is a 3.5 BTC fundraiser for Medic Mobile.
Hearn said in an interview that Lighthouse differs from platforms like Kickstarter for a number of reasons, including a lack of processing charges and a built-in gallery of projects.
On the latter point, Hearn suggested that project galleries should be just as decentralized as the funding element, and anticipates directories taking shape alongside a gallery he is hosting for Lighthouse initiatives.
He told CoinDesk:
“Lighthouse is really only about moving money around, and I think this is going to be one of the things that people find confusing about it. It’s not Kickstarter in a downloadable app that’s peer to peer to peer. It’s the way of handling bitcoins.
How it works
Lighthouse employs a system of project files that enable users to make donations to projects of their choosing, as well as create their own. The first step involves setting up the wallet and depositing funds.

This post was published at Coin Desk on January 20, 2015.