Cash App integrates Bitcoin Lightning Network for sooner BTC transfers
Popular cell fee service Cash App has built-in the Bitcoin (BTC) Lightning Network as part of an replace, permitting sooner and cheaper BTC transfers utilizing the Layer 2 (L2) fee protocol.
Cash App is developed and owned by Block (previously Square), a fintech agency co-founded by former Twitter CEO Jack Dorsey. The announcement of the BTC L2 integration was shared as a notification on the official Cash App utility, which made its approach via to Crypto Twitter:
— Yegor Petrov ⚡️ (@yeg0rpetrov) January 11, 2022
The Bitcoin Lightning Network protocol addresses the famous limitations of the BTC blockchain to enhance speeds whereas lowering the prices related to transactions.
Just final month, Dorsey featured in a video with Lightning Development Kit (LDK), a service developed by Spiral, a Square subsidiary targeted on constructing for the Bitcoin ecosystem. LDK permits builders to combine Lightning protocols into Bitcoin wallets and associated providers.
Prior to leaving Twitter, Dorsey additionally brazenly voiced his curiosity in integrating L2 protocols for the newly launched tipping providers on Twitter and BlueSky:
Only a matter of time
— jack⚡️ (@jack) June 11, 2021
The newest data from Business of Apps exhibits that Cash App catered to over 36 million customers throughout the United States and the United Kingdom.
Related: Block’s Cash App will permit customers to reward BTC for the vacations
Favoring ongoing Bitcoin adoption, Cash App launched a service that allowed customers to reward BTC and shares over the vacation season.
Cash App allowed customers to ship a minimal of $1 value of BTC with no need to personal the belongings beforehand.