Common cellular funds service Cash App has built-in the Bitcoin Lightning Network as part of an replace, permitting faster and cheaper Bitcoin (BTC) transfers utilizing the layer-two (L2) funds protocol.
Cash App is developed and owned by Block (previously Sq.), a fintech agency co-founded by former Twitter CEO Jack Dorsey. The announcement of the Bitcoin L2 integration was shared as a notification on the official Cash App utility, which made its method to Crypto Twitter:
— Yegor Petrov ⚡️ (@yeg0rpetrov) January 11, 2022
The Lightning Network protocol addresses the famous limitations of the Bitcoin blockchain to enhance speeds whereas decreasing transaction charges.
Simply final month, Dorsey featured in a video with Lightning Growth Package (LDK), a service developed by Spiral, a Sq. subsidiary centered on growing the Bitcoin ecosystem. LDK permits builders to combine Lightning protocols into Bitcoin wallets and associated companies.
Previous to leaving Twitter, Dorsey additionally brazenly voiced his curiosity in integrating L2 protocols for the newly launched tipping companies on Twitter and BlueSky:
Solely a matter of time
— jack⚡️ (@jack) June 11, 2021
The newest knowledge from Enterprise of Apps exhibits that Cash App has catered to over 36 million customers throughout america and the UK.
Associated: Block’s Cash App will enable customers to reward BTC for the vacations
Favoring ongoing Bitcoin adoption, Cash App has 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 property beforehand.