Cash App has announced the integration of Lightning Network. Through this feature, the mobile payment service provider stated that users will have access to a fast and free way of transacting in Bitcoin.
The new feature will allow users to send Bitcoin to any Lightning or on-chain Bitcoin address.
Cash App integrates Lightning Network
The announcement is a follow-up to a notification sent to users within the app informing them of the integration of the Lightning Network. This feature has been unveiled to users, and they can now use it to enjoy the benefits offered by Bitcoin’s scalability solution.
Users that want to use the Lightning Network feature on Cash App have to scan a Lightning QR using their cameras. After confirming the details of the transactions, they can transfer the selected amount.
The Lightning Network is a scalability solution for the Bitcoin network. It removes congestion from Bitcoin’s network by creating a separate network where users can conduct transactions. By easily the load on the main network, Bitcoin achieves speed and charges lower fees to users.
Lightning Network feature will not be available in New York
News of this integration was received positively by users of the app. However, users from New York will not enjoy these benefits. A few weeks back, Cash App stated that the Lightning Network feature would be available across the United States apart from New York.
While this could b the official announcement from Cash App, some users have stated that it was still possible for New York users to access the Lightning Network feature. One Twitter user argued that they can “run their own LN node.” Due to the decentralized nature of the Lightning Network, it can be assessed from any location.
Cash App’s parent company, Block, has been working hard to make Bitcoin a competitive network. Jack Dorsey, the former CEO of Twitter, is the current CEO of Block, and he has been actively involved in developing major upgrades for the Bitcoin network. Since quitting his job on Twitter, Dorsey has been focusing on how Block can grow the Bitcoin ecosystem.
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Source: https://insidebitcoins.com/news/cash-app-adopts-lightning-network-to-support-btc-transactions