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Bitcoin Lightning Network goes live on Cash App

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Cash App, a mobile payment provider, has announced that Lightning Network can now be used to send Bitcoin (BTC) using its app. Users can now send BTC to any Lightning or on-chain BTC address using the new capability.

The Lightning Network has integrated into the app a few weeks ago, according to a notification in the app. Users can now use the feature and benefit from the Bitcoin Lightning Network’s benefits in their daily BTC transactions.

To use the Lightning Network on the Cash App, customers must scan a Lightning QR with their cameras, check the payment details, and then tap on pay.

Lightning reduces transaction fees

The Lightning Network, also known as LN, is a layer-2 solution that allows Bitcoin to scale. Lightning reduces transaction fees and speeds up transactions by building a separate network. Where users transact and create minimum interactions with the Bitcoin blockchain.

While many users were ecstatic to be able to access the Lightning Network through their Cash App, others were unable to do so. The function will be available everywhere in the United States except New York, as the company announced a few weeks ago. “At this time, Lightning is not available to residents of New York,” Cash App said in a tweet.

Notgrubles, a Twitter user, had a different opinion. Users in New York can still participate provided they “run their own LN node,” according to him. Bitcoin Lightning Network transactions are decentralised. So they may be in use by anyone, regardless of where they are outside of Cash App. Another user, ProofofBrain, echoed a similar view with the following tweet:

Block Inc., a firm formed by Jack Dorsey, developed and operates Cash App. Dorsey resigned as Twitter’s CEO in 2021. While he claims that stepping down will allow the company to be free of the founder’s influence, many think that the move will allow Dorsey to devote more time to Bitcoin.

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