Blockchain

Cash App integrates Bitcoin Lightning Network for faster BTC transfers

The layer-two protocol addresses the historic limitations of Bitcoin to improve speeds while reducing transaction fees.

Popular mobile payments service Cash App has integrated the Bitcoin Lightning Network as a part of an update, allowing faster and cheaper Bitcoin (BTC) transfers using the layer-two (L2) payments protocol. 

Cash App is developed and owned by Block (formerly Square), a fintech firm 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 application, which made its way to Crypto Twitter:

The Lightning Network protocol addresses the noted limitations of the Bitcoin blockchain to improve speeds while reducing transaction fees. 

Just last month, Dorsey featured in a video with Lightning Development Kit (LDK), a service developed by Spiral, a Square subsidiary focused on developing the Bitcoin ecosystem. LDK allows developers to integrate Lightning protocols into Bitcoin wallets and related services.

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Prior to leaving Twitter, Dorsey also openly voiced his interest in integrating L2 protocols for the newly launched tipping services on Twitter and BlueSky:

The latest data from Business of Apps shows that Cash App has catered to over 36 million users across the United States and the United Kingdom. 

Related: Block’s Cash App will allow users to gift BTC for the holidays

Favoring ongoing Bitcoin adoption, Cash App has launched a service that allowed users to gift BTC and stocks over the holiday season.

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

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