Cash App Integrates Lightning Network for Bitcoin Payments
Lightning Network is a decentralized protocol that uses smart contracts on top of blockchain-based cryptocurrencies like bitcoin
- Cash App is a mobile money transfer service that allows people to send and receive money as well as bitcoin
- Block (formerly Square) developed Cash App; Block’s CEO is Jack Dorsey
Mobile payment service Cash App has added a layer-2 payment protocol Lightning Network to help users transact with bitcoin, according to reports by users.
The feature was rolled out to a handful of users and the Lightning Network feature can be used as “the fastest, free way to pay anyone in bitcoin,” according to screenshots.
At the time of publication, it was not clear how users were selected and how many users have received the new feature.
Cash App was not available for immediate comment requested by Blockworks. But Jack Dorsey, the co-founder and CEO of Block, which developed Cash App, has been acknowledging and liking tweets on Twitter by Cash App users posting screenshots of their Lightning Network transactions on Cash App.
The Lightning Network
Lightning Network is a decentralized protocol that uses smart contracts on top of blockchain-based cryptocurrencies like bitcoin. Through the network, participants can instantly send, receive or transact payments without creating an on-blockchain transaction for individual payments, according to its website.
In February 2019, Dorsey said during an interview that rolling out the Lightning Network on Cash App, is “not an if, it’s more of a when.” Nearly three years later, his plans have come to fruition.
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