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Popular mobile payment service Cash App has integrated the Bitcoin (
$73,917.00 ) (BTC) Lightning Network as a part of an update, allowing faster and cheaper BTC transfers using the Layer 2 (L2) payment 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 BTC L2 integration was shared as a notification on the official Cash App application, which made its way through to Crypto Twitter:
The news are real! @CashApp added # Bitcoin ( $73,917.00 ) Lightning ⚡️Network pic.twitter.com/zbbdqcx0dC
— Yegor Petrov ⚡️ (@yeg0rpetrov) January 11, 2022
The Bitcoin ( $73,917.00 ) Lightning Network protocol addresses the noted limitations of the BTC blockchain to improve speeds while reducing the costs associated with transactions.
Just last month, Dorsey featured in a video with Lightning Development Kit (LDK), a service developed by Spiral, a Square subsidiary focused on building for the Bitcoin ( $73,917.00 ) ecosystem. LDK allows developers to integrate Lightning protocols into Bitcoin ( $73,917.00 ) wallets and related services.
Prior to leaving Twitter, Dorsey also openly voiced his interest in integrating L2 protocols for the newly launched tipping services on Twitter and BlueSky:
Only a matter of time
— jack⚡️ (@jack) June 11, 2021
The latest data from Business of Apps shows that Cash App 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 ( $73,917.00 ) adoption, Cash App 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.
