Twitter is making waves within the crypto neighborhood after teasing a plan to combine Bitcoin.
Twitter’s product lead, Kayvon Beykpour, affirms the corporate is targeted on bringing Bitcoin’s Lightning Network to the social media platform.
— Kayvon Beykpour (@kayvz) September 1, 2021
The Lightning Network, developed by software program developer Lightning Labs, gives a possible scaling answer for Bitcoin, permitting it to course of vastly extra transactions per second as opposed to the primary blockchain’s 5 transactions per second.
Bitcoin funds on the Lightning Network would permit customers to ship cash to others on the community as a part of Twitter’s Tip Jar program that started testing earlier this yr. Users may drop off small quantities of cash into one’s “tip jar” with out having to know the person or trade fee data.
Currently, Bandcamp, Cash App, Patreon, PayPal, and Venmo are the one obtainable fee strategies on the beta take a look at. However, customers will quickly find a way to hyperlink Bitcoin addresses to their profiles as effectively.
In order to allow the Lightning Network on its platform, Twitter is teaming up with international funds firm Strike, who in May partnered with the nation of El Salvador to develop infrastructure and assist Bitcoin as a authorized tender.
Many have identified that not all areas of the world have entry to Strike, an instance being Africa. Twitter CEO Jack Dorsey responded by suggesting that Strike could possibly be coming to Africa with future partnerships quickly.
— jack⚡️ (@jack) September 1, 2021
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