Bitcoin Lightning Network goes live on Cash App


Mobile payment service Cash App has revealed that Lightning Network can now be used to transfer Bitcoin (BTC) through its app. With the new feature, its users can send their BTC to any Lightning or on-chain BTC address.

A few weeks ago, the company announced via an in-app notification that it had integrated the Lightning Network. Now, its users can finally use the feature and enjoy the benefits that the Bitcoin Lightning Network brings to daily BTC transactions.

To use the Lightning Network on Cash app, users must scan a Lightning QR using their camera, confirm payment details and tap “Pay”.

The Lightning Network, sometimes referred to as Lightning or LN, is a Layer 2 solution that brings scalability to Bitcoin. Lightning eases the load on the Bitcoin blockchain by creating a separate network where users transact and creating minimal engagements with the Bitcoin blockchain to reduce fees and speed up transactions.

While many users were excited to be able to use the Lightning Network feature through their Cash app, some could only watch. Like the firm noted a few weeks ago, the feature will be available everywhere in the United States outside of New York. “At this time New York residents are not eligible for Lightning,” Cash App tweeted.

Twitter user Grublés disagreed. According to him, New York users are still eligible if they “run their own LN node.” Due to the decentralized nature of Bitcoin Lightning Network transactions, it can be used by anyone regardless of location outside of Cash App. Proof of Brain, another Twitter user, also supported this sentiment by tweeting:

Related: Blocked Job Postings Reveal Jack Dorsey’s Bitcoin Plans

Cash App is a service developed and operated by Block, a company founded by Jack Dorsey. In 2021, Dorsey stepped down as CEO of Twitter. Although he mentioned that resigning is a way to free the company from the influence of the founder, many speculate that this decision means that Dorsey will spend more time on Bitcoin.


Comments are closed.