• Home News Jack Dorsey Hints at Lightning Network Integration on Twitter

Jack Dorsey Hints at Lightning Network Integration on Twitter

Posted 14 Jun-2021 08:34 PM by wagner | 683

Jack Dorsey, CEO of Twitter, hinted at the possibility of integrating Lightning Network into Twitter yesterday. Dorsey answered a Tweet of a follower saying it was œjust a matter of time for this to be a fact. Dorsey is a big Bitcoin proponent and has extended Bitcoin functionality to another of his companies, Square.

Jack Dorsey Hints at Twitter/Lightning Network Integration


Jack Dorsey hinted yesterday at the possibility of integrating Lightning Network into Twitter. Dorsey stated it was œonly a matter of time for this to happen, answering a follower's tweet. Interestingly, the conversation started around an app called Sphinx. The app uses Lightning Network as a way of relaying messages between a set of users and for payments.

Lightning Network is a second layer protocol for payment facilitation in Bitcoin. It was designed in 2016 as a way of achieving scalability for micropayments. However, developing the network concept in the real world took some time. Now there are Lightning Network implementations that are mostly functional, albeit with some limitations.

The integration nod could mean more than one might think. Bluesky, the decentralized social media protocol Twitter is building, might include Lightning Network as more than a payment method. In the same way Sphinx chat is using it, it could be leveraged to become the backbone of a new architecture. This could also help with the discovery of decentralized solutions to censorship problems. Twitter banned former President Trump last year, for example, awakening worries about the unchecked power of the platform.

˜Only a Matter of Time'


This is not the first time Dorsey has made such an announcement. Back in 2019, the entrepreneur hinted at the integration of Lightning Network for Cash App. Cash App is a service provided by Square, that allows customers to buy Bitcoin directly. The reference was made in a podcast along with Elizabeth Stark, CEO of Lightning Labs. However, the company has still not integrated Lightning Network into the app.

To the contrary, Cash App increased the minimum bitcoin withdrawal limit from 10K to 100K satoshis last April, according to Bitcoin Magazine. Still, Bitcoin is a big element of Dorsey's companies and this is unlikely to change anytime soon. Dorsey also recently announced Square might dabble in the hardware wallet business.

Source:-https://news.bitcoin.com/jack-dorsey-hints-at-lightning-network-integration-on-twitter/

Tags:

Bitcoin,bluesky,censoship,Cryptocurrency,Jack Dorsey,lightning network,Square, Cheap Press Release Distribution Services, Affordable Press Release Services, Free Press Release Network, Free Press Release, Free Press Release Distribution Services

Company Information

Company Name Contact Person Contact Number Email Id Website Address
Twitter

Other Crypto news Related Press Release News

CRYPTO GRANNY PREDICTS 2020 BOOM IN CRYPTOCURRENCIES & ALTCOINS Free

[Australia] Cryptocurrency & Blockchain YouTube influencer popularly known as “Crypto Granny” within the community...Read More


Cryptowisser has announced new Comparision Tool. Free

crypto service comparison site, Cryptowisser has now released its revolutionary Comparision tool which helps you compare cryptocurrency exchanges...Read More


Limited Edition Watch Launch - Free the Money, Free the World by Franck Muller and Bitcoin Free

Bitcoin.com Announces Partnership With Luxury Watchmaker Franck MullerBitcoin, announced the launch of a new Franck Muller luxury watch called “Free...Read More


Asset Manager Vaneck Launches physically-backed Bitcoin Exchange-Traded Note Free

On November 25, the asset manager Vaneck announced the launch of an exchange-traded product (ETP) called the “Vaneck Vector Bitcoin ETN.” The exch...Read More


SEC Chairman Jay Clayton Explains US Crypto Regulation, Calls Bitcoin a Store of Value Free

SEC Chairman Jay Clayton Explains US Crypto Regulation, Calls Bitcoin a Store of ValueThe chairman of the U.S. Securities and Exchange Commission ( SE...Read More