Bitcoin is a whale.
It’s beautiful, but it’s also slow and bulky, and the Bitcoin Lightning Network is the answer to that issue. BLN is an answer to all those who want faster transaction speeds, and lower transactional costs.
That’s not all though, Jack Dorsey is reportedly bringing Bitcoin’s Lightning Network to either Twitter, or the decentralized platform BlueSky!
Dorsey was seen responding to comments on Twitter saying that “it’s only a matter of time” before he integrates the lightning network into one of these two platforms.
This will no doubt be a game changer for Bitcoin, and just another sign to remain optimistic about the future of the currency.
Check out what people are saying:
Twitter is funding a small independent team of up to five open source architects, engineers, and designers to develop an open and decentralized standard for social media. The goal is for Twitter to ultimately be a client of this standard. 🧵
— jack (@jack) December 11, 2019
Decrypt had more:
Twitter CEO Jack Dorsey is one of the loudest voices advocating for Bitcoin. Now he’s putting his money where his mouth is, revealing that he plans to integrate Bitcoin’s Lightning Network into either Twitter or the decentralized BlueSky platform.
Responding to a tweet asking Dorsey to “Build LN into BlueSky or Twitter,” he responded that it was “Only a matter of time.”
Lightning Network is a second-layer scaling solution designed to speed up Bitcoin transactions and reduce costs by routing transactions through channels without needing to use the Bitcoin blockchain to verify each transaction. It’s similar in principle to the settlement systems used by the likes of Visa and Mastercard, quickly verifying the buyer’s funds and the seller’s request before settling the transaction later.
— Lark Davis (@TheCryptoLark) June 11, 2021
What Jack Dorsey understands more than most is that #bitcoin is also an open monetary network which enables many use cases to be built on top.
The $BTC price is what provides security to the network by incentivizing miners to take part.
— Ryan Dinse (@Konfidinse) June 11, 2021
Coin Telegraph reports:
Dorsey’s comment appears intentionally vague, with the remark appearing open to be interpreted as confirming that either BlueSky or Twitter, or even both companies, could be eying a Lightning integration.
Twitter user Mklad also suggested Dorsey’s pro-Lightning remarks could relate to Square’s recent acquisition of Jay-Z’s failed music streaming platform, Tidal.
Dorsey’s tweet comes amid recent moves from Square to expand its digital asset operations.
Earlier this month, Dorsey revealed that Square intends to develop an open-source non-custodial Bitcoin hardware wallet.
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