Cash App, recharged at Block by the Lightning Network? – Eagerly awaited for more than two years, the Lightning Network should soon make its debut on Cash App. This application developed by Block, formerly Square, allows money transfers via mobile.
Bitcoin Exchanges Coming to Cash App
Cash App is an application that allows you to send and receive money via his cell phone thanks to a simple username. It also diversified its offer in 2017 by allowing bitcoin trader, then actions in 2020. Power exchange bitcoin between individuals seemed to be the logical continuation of things for Jack Dorsey, the CEO of Block.
In February 2019, he had also announced during a interview that the deployment of Lightning Network on Cash App was only a matter of time. It is now done. Available to a handful of users, this feature should allow bitcoin transactions and free of charge.
“This is real news! Cash App added Bitcoin’s Lightning Network. “
“We just added the Lightning Network. Pay anyone with bitcoin fast and at no cost – just scan or send to a Lightning address. “
Althoughstill in restricted access, the upcoming availability of this function for the general public is now an open secret. Jack Dorsey, former CEO of Twitter, indeed liked the tweets of Cash App users on which the screenshots of their transactions appeared in sats on the Lightning Network. The sat or sats in the plural, diminutive of satoshi, is the smallest bitcoin unit of account (1 satoshi = 0.00000001 BTC).
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The Lightning Network, Towards Mass Adoption?
The Lightning Network, the second layer protocol of bitcoin network, is a micropayment solution which saw the light of day in 2018. Thanks to it, a large number of trade can be processed quickly and to a almost non-existent cost. Thanks to the generalization of applications such as Cash App, it would be possible in the near future for everyone to use this payment channel for their daily purchases.
Jack Dorsey, like Michaël Saylor, is one of the personalities who are throwing headlong into the Bitcoin adventure. His company Block is working in parallel on the development of a crypto-exchange called tbDEX. He also integrated the Lightning Network to Twitter in the form of Tips, tips that a follower can offer in support of his favorite influencers.
Thanks to the actions of companies such as Block, the use of the Lightning Network as a channel of exchange is gradually tending towards the obvious. Instant payment applications like Cash App seem to have a bright future. Will they be the spearhead that will soon propel Bitcoin towards global adoption?
The democratization momentum sweeping through cryptocurrencies has only just begun. The various sectors of the cryptosphere continue to develop, just like Bitcoin (BTC). There is still time to join the crypto revolution, register on the KuCoin platform ! Easily buy your BTC and other cryptos there, with our affiliate link.