Twitter CEO Jack Dorsey (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 “it’s only a matter of time before it became a reality.” Dorsey is a big supporter of Bitcoin and extended Bitcoin’s functionality to his other company, Square.
Jack Dorsey hints at Twitter/Lightning network integration
Jack Dorsey yesterday hinted at the possibility of integrating the Lightning Network into Twitter.Dorsey statement Responding to followers’ tweets, it’s “just a matter of time”. Interestingly, the conversation started with an application called Sphinx. The application uses the Lightning Network as a way to relay messages and payments between a group of users.
The Lightning Network is a second layer protocol for Bitcoin payment convenience. It was designed in 2016 to achieve the scalability of micropayments. However, it takes some time to develop network concepts in the real world. Currently, Lightning Network implementations are mostly functional, albeit with some limitations.
An integrated nod may mean more than people think. Bluesky, the decentralized social media protocol Twitter is building, may not just use the Lightning Network as a payment method. In the same way that Sphinx chat uses it, it can be used to become the backbone of a new architecture. This also helps to find solutions to decentralized censorship problems. For example, Twitter banned former President Trump last year, which raised concerns about the platform’s unchecked power.
‘Just a matter of time’
This is not the first time Dorsey has issued such a statement. As early as 2019, the entrepreneur hinted at the integration of Lightning Network for Cash App. Cash App is a service provided by Square that allows customers to purchase bitcoin directly. This reference was presented in a podcast with Elizabeth Stark, CEO of Lightning Labs. However, the company has not yet integrated the Lightning Network into the application.
On the contrary, according to Bitcoin Magazine, in April last year, Cash App raised the minimum withdrawal limit for Bitcoin from 10K to 100K satoshis. Nevertheless, Bitcoin is still an important element of Dorsey, which is unlikely to change anytime soon. Dorsey also recently announced that Square may be involved 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.
Image Source: Shutterstock, Pixabay, Wikimedia Commons
Disclaimer: This article is for reference only. It is not a direct offer or invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author assumes direct or indirect responsibility for any damage or loss caused or claimed to be caused by using or relying on any content, goods or services mentioned in this article.