CashApp Enables Bitcoin Payments Through The Lightning Network
CashApp shocked the world with the integration of the Bitcoin lighting feature into its payment app.
CashApp is a mobile payment app service, which is highly popular in the USA and UK. The app is backed by the Block. Jack Dorsey is CEO of Block and he founded the company in 2009 with Jim McKelvey. According to an available report of September 2021, CashApp facilitated 70 million annual transacting users and has generated $1.8 billion in gross profit. These things are showing clearly how much its services are popular.
On 8 February, the official Twitter account of CashApp notified its followers that a Bitcoin lighting feature is available in the app and now users can pay in Bitcoin to each other without any significant fees.
Here this announcement of lighting network integration by CashApp is available on Twitter only and can’t be seen anywhere on its platform. And Reportedly this lightning network service is not available for every user in the US and UK. That means, it is still in the initial phase of rollout and probably it will take some time to be available for every user.
Lightning network integration news came for the first time in 2019. In 2019 CashApp team promised to introduce a feature of the Bitcoin lightning network but it took a long time for the company to introduce it.
Bitcoin lightning network
Lightning network is a concept introduced by the Bitcoin community to allow the users of the Bitcoin network to facilitate transactions at the speed of light at almost zero cost, where we don’t no need to wait for confirmation of the block.
However, the introduction of lightning network features to the crypto industry was accompanied with the huge controversy about the decentralization of the network but still, people are moving with the lightning network concept to facilitate transactions at a very low cost.
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