Cash App, a prominent mobile payments service, recently integrated the Bitcoin Lightning Network as a part of an update. The implication for users of the platform is faster and cheaper BTC transfers on the layer-two (L2) payments protocol.
A Twitter statement heralding the new development, which was also earlier shared on the official Cash App application, read:
“The news are real! @CashApp added #Bitcoin Lightning ??Network pic.twitter.com/zbbdqcx0dC”
As earlier mentioned, this announcement cuts down the limitations of the BTC blockchain. In December, Jack Dorsey appeared in a video with Lightning Development Kit (LDK), a service developed by Spiral, which is a Square subsidy. Part of LDK’s aim is to develop and enhance the BTC ecosystem. It partly achieves this by permitting developers to integrate Lightning protocols into Bitcoin wallets and related services.
Cash App is developed and owned by Block (formerly Square), a fintech co-founded and owned by Dorsey, who also founded Twitter. The Twitter founder was also at the helm of the social media platform as CEO until late November, when he stepped down.
According to stats, the total number of users to benefit from Cash App’s offerings across the US and UK is over 36 million.
