The news came out just a few hours ago, without official validation yet, and it’s already igniting the crypto community. Because it seems that the CashApp application of the company Block – formerly Square – has just joined the Lightning Network. The only real current tool dedicated to an effective and functional adoption of Bitcoin as a means of (micro) payment. And on the other side, a structure owned by the famous maximalist of the question Jack Dorsey. Certainly nothing important …
Square has been slipping into the Bitcoin hole for a while. To the point of having recently made a symbolic name change to become the brand new “Block. ” A mega-structure encompassing an ever-increasing number of services developed around or in relation to its adoption as a means of payment. And at the center of all this dynamic, the CashApp application which already makes it possible to buy and / or resell BTC for fees presented as minimal.
However, Bitcoin often remains difficult to envision as a “simple” means of payment. In particular because of its high volatility. But this more mainly from the point of view of the inhabitants of the rich countries, benefiting from a solid economy based on a stable currency. Because in the rest of the world, the Lightning Network continues to grow in an absolutely spectacular way. With this functionality of layer 2 which allows to make almost instant international payments, for a fraction of satoshis. And a constantly increasing number of users over the past year.
CashApp integrates the Bitcoin Lightning Network
It is impossible to miss this revolution underway for Jack Dorsey. With as one of his last decisions before leaving the management of Twitter, the implementation of tips in Bitcoin using his CashApp application and the Lightning Network. A rapprochement which was obviously only the outline of what has just happened at the start of the year. Because recently, these two networks dedicated to payments have apparently become common. This is to provide “the fastest, most free way to pay anyone with Bitcoin.” “ In any case if we are to believe the recent publication of the Bitcoin Magazine account on Twitter, which includes the official account of Jack Dorsey.
Nothing really new, if we consider that the latter had been addressing this possibility for some time as falling under the “when” and no longer as a simple hypothesis. And a symbolic practice that opens the doors to a new world of possibilities for Bitcoin. Because this once again validates the status and functionality of money, despite the opposition of regulatory bodies. All accompanied by a possible greater ease of use provided by this CashApp application.
However, some voices are already being raised to highlight the possible loss of privacy that this could impose on the Lightning Network. While others still wonder if this announcement is just about news from the end of last year.. Because it is a fact, Jack Dorsey continues to bring new developments in the field at a breakneck pace. With the main ambition, decentralized finance built on the Bitcoin network. And the Lightning Network may well become the cornerstone. A case to follow closely over the next few days.