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Block’s Cash App Is Finally Integrating the Lightning Network
First promised back in 2019, Block’s move will allow users to quickly send bitcoin to each other for free,
Updated May 9, 2023, 3:35 a.m. Published Jan 18, 2022, 4:31 p.m.
Block, formerly known as Square, is integrating the Lightning Network into its popular Cash App, a move first promised in 2019. The company said the feature should be available to all U.S. Cash App users, except those in New York State, in the coming weeks.
- The integration of the network will allow Cash app customers in the U.S. to send bitcoin for free within seconds to anybody in the world.
- The Lightning integration is made possible by the Lightning Development Kit created by Spiral, which is funded by Block.
- Cash App customers will also be able to send bitcoin to any compatible wallet that accepts Lightning Network payments, without being charged fees.
- Almost three years ago, Block CEO Jack Dorsey, who’s also an investor in Lightning Labs, said there were plans underway to integrate the scaling technology with Square’s Cash App.
- Since then, the Lightning Network has progressed significantly, with developers working to make the technology more usable for more people. The network received a boost from the November activation of Taproot, the biggest change to Bitcoin in four years, which allowed new privacy improvements to be made to Lightning.
- In November, Dorsey announced he would step down as the CEO of Twitter, but he remains the CEO of Block.
Read more: 5 Ways Bitcoin’s Lightning Network Advanced in 2021
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