Twitter CEO Jack Dorsey yesterday hinted at the possibility of integrating the Lightning Network into Twitter. Dorsey responded to a tweet from a follower, saying it was “just a matter of time” for this to be a fact. Dorsey is a big bitcoin proponent and has extended bitcoin functionality to his other companies, Square.
Jack Dorsey hints at Twitter/Lightning Network integration
Jack Dorsey hinted at the possibility of integrating the Lightning Network into Twitter yesterday. dorsey Having said It was “only a matter of time” for this to happen, responding to a follower’s tweet. Interestingly, the conversation started around an app called puzzler. The app uses the Lightning Network as a way to relay messages between a group of users and for payments.
The Lightning Network is a second layer protocol for facilitating payments in bitcoin. It was designed in 2016 as a way to achieve scalability for micropayments. However, it took some time to develop the network concept in the real world. There are now Lightning Network implementations that are mostly functional with some limitations.
The approval of integration can mean more than one person can think of. Blue SkyTwitter, the decentralized social media protocol Twitter is building, could include the Lightning Network as more than a payment method. It can be used to become the backbone of a new architecture in the same way that Sphinx Chat is using it. It can also help in the search for decentralized solutions to the problems of censorship. Twitter banned former President Trump last year, for example, raising concerns about the platform’s uncontrollable power.
‘only a matter of time’
This isn’t the first time Dorsey has made such an announcement. In early 2019, the entrepreneur hinted at the integration of the Lightning Network for Cash app. Cash App is a service provided by Square, which allows customers to buy bitcoins directly. Reference a. was done in podcast With Lightning Labs CEO Elizabeth Stark. However, the company still hasn’t integrated the Lightning Network into the app.
In contrast, Cash App increased the minimum bitcoin withdrawal limit from 10K to 100K satoshis last April, accordingly For Bitcoin Magazine. Still, bitcoin is a big element of Dorsey’s companies and that is unlikely to change anytime soon. Dorsey too recently announced Square could dabble in the hardware wallet business.
What do you think of Jack Dorsey’s Lightning Network/Twitter integration announcement? Tell us in the comments section below.
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