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Jack Dorsey: Only a Matter of Time Before Twitter Integrates Bitcoin’s Lightning Network

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Fri, 06/11/2021 - 03:27
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Alex Dovbnya
Twitter may soon integrate Bitcoin's Lightning Network
Jack Dorsey: Only a Matter of Time Before Twitter Integrates Bitcoin’s Lightning Network
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In a recent tweet, Twitter CEO Jack Dorsey says it’s only “a matter of time” before the social media giant integrates the Lightning Network, a layer-two scaling solution built on top of the Bitcoin blockchain.

The popular protocol will likely be used for micropayments, but Dorsey is yet to provide any details about the integration.           

Prior to that tweet, the billionaire praised encrypted messaging service Sphinx Chat, which allows users to talk to each other via Lightning nodes.

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As reported by U.Today, Dorsey’s payment company Square is considering developing its own Bitcoin hardware wallet.

It will also build a solar-powered Bitcoin mining facility together with blockchain technology company Blockstream.

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Rapid growth  

The number of nodes on the Lightning Network has more than doubled since last June, according to data provided by Bitcoin Visuals.     

LN
Image by bitcoinvisuals.com

Over the past few years, the protocol has made significant strides in terms of adoption, with Bitfinex becoming the first major exchange to integrate it in late 2019. Kraken also plans to add such functionality in 2021. 

On top of that, merchants in El Salvador will likely have to accept payments over Lightning, which will give a major adoption boost to the network.        

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.