The Cash App now supports the Bitcoin Lightning Network

The Cash App now supports the Bitcoin Lightning Network
The Cash App now supports the Bitcoin Lightning Network/courtesy

As part of an update, the Bitcoin Lightning Network was integrated into the popular mobile payments app, Cash App, allowing for faster and cheaper Bitcoin (BTC) transfers via the layer-two (L2) payments protocol.

 

Cash App was created and is owned by Block (formerly Square), a fintech company co-founded by former Twitter CEO Jack Dorsey. A notification on the official Cash App announced the Bitcoin L2 integration, which was picked up by Crypto Twitter:

By addressing known limitations in the Bitcoin blockchain, the Lightning Network protocol improves transaction speeds while lowering transaction fees.

 

Just last month, Dorsey made an appearance in a video with Lightning Development Kit (LDK), a service developed by Spiral, a Square subsidiary focused on the Bitcoin ecosystem. Lightning protocols can be integrated into Bitcoin wallets and other services using LDK.

 

Dorsey expressed an interest in integrating L2 protocols for Twitter’s and BlueSky’s newly launched tipping services prior to his departure from Twitter:

Only a matter of time

— jack⚡️ (@jack) June 11, 2021

Cash App has over 36 million users in the United States and the United Kingdom, according to the most recent data from Business of Apps.

 

Cash App, a Bitcoin adoption company, has launched a holiday gifting service that allows users to give BTC and stocks.

 

Cash App allowed users to send a minimum of $1 worth of BTC without having to own the assets first.

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About Robert Oluoch

My focus is economic, politics, entertainment and gaming reviews. My aim is to depict the complication of life through the combination of words and creativity.

Have a tip we should know? tips@rhd.news

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