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Cash App Integrates Bitcoin Lightning Network

Alex Grace

Alex Grace

October 27, 2022

2 分鐘閱讀

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Jack Dorsey’s Block company announces the integration of Lighting Network, a mainstream L2 protocol for Bitcoin (BTC) payments, into its Cash App.

Bitcoin Lightning Network payments finally live in Cash App

According to the official announcement shared by Michael Rihani, Product Lead in Cash App, Bitcoin Lightning payments are now available for Cash App users. Lighting payments can be authorized via QR-code or direct link.

With 40 mln users globally, Cash App is among the most popular B2C payment applications for daily usage in the U.S.

Cash App development is helmed by Twitter founder Jack Dorsey. Mr. Dorsey is a long-term proponent of Bitcoin Lightning: back in 2019 he stressed that the protocol would be integrated into his app.

With Cash App, Bitcoin now can be transferred in seconds

The integration of Bitcoin Lightning is of paramount importance for Cash App: it dramatically advances the user experience of its customers. The Bitcoin (BTC) network itself isn’t suitable for daily payments: its transactions can wait for the confirmations for 30+ minutes.

At the same time, with Lighting, Bitcoins (BTC) can be transferred in a nearly-instant manner. As such, Cash App is among the first B2C apps to integrate the dominant second-layer solution for the Bitcoin (BTC) network.

In Lightning Network, coins are transferred through a purpose-made payments channel: it reduces the pressure on mainnet and allows to dramatically reduce transactional fees and confirmation time.

GetBlock Bitcoin (BTC) nodes: Gold standard for orange coin

GetBlock, a tier-1 blockchain nodes API provider, connects its clients to Bitcoin (BTC) network APIs. As such, any Web3 product and payment solution can follow Cash App steps and add Bitcoin (BTC) as payment method.

GetBlock supercharges crypto apps, trading bots, wallets, DEXes and CEXes with low-cost connection to Bitcoin (BTC) shared and dedicated nodes. The connection is available through JSON-RPC and REST methods with over 99% uptime.

Alex Grace

Alex Grace

October 27, 2022

2 分鐘閱讀

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