Cash App, a very popular mobile payment service, has now integrated the Bitcoin Lightning Network. Because of this, the payment service aims to enable faster and cheaper Bitcoin transfers. This using the layer-two (L2) payment protocol. In the United States (US) and United Kingdom (UK) alone, the Cash App has more than 36 million users.
Improve speed and reduce transaction costs
The company announced this via a Twitter post. Bitcoin’s Lightning Network protocol (BTC) addresses several limitations of the Bitcoin blockchain with the goal of improving speeds while lowering transaction costs.
The news are real! @CashApp added #Bitcoin Lightning ⚡️Network 🚀 pic.twitter.com/zbbdqcx0dC
— Yegor Petrov 🔑⚡️ (@yeg0rpetrov) January 11, 2022
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Integration of L2 protocols
Last month, Twitter co-founder Jack Dorsey was featured in a video promoting the Lightning Development Kit (LDK). This kit is a special service that focuses on the development of the Bitcoin ecosystem. The specially developed development kit allows developers to integrate various Lightning protocols into BTC wallets.
Before leaving Twitter, however, Dorsey made it public that he was interested in integrating L2 protocols for the newly launched tipping services on Twitter. He said the following about this via Twitter:
Only a matter of time
— jack⚡️ (@jack) June 11, 2021