Block Inc Cash App, a payment processing app, now supports Bitcoin transactions. This allows users to send and receive Bitcoins over the lightning network.
Cash App now supports transactions through the Bitcoin Lightning Network after its February integration with the lightning network.
Lightning Network is a layer-2 network that uses Bitcoin as a platform to provide solutions. Scalability Instant payments can be made among a group of participants.
Michael Rihani was the product lead revealed This announcement was made by him when he posted a tweet about it on Twitter. He added, “Cash App now supports both send and receive over lightning. As long as one wallet supports LN, you should be good.”
Michael Rihani says that the new feature is only available to Cash App users in America at this time. In addition, the feature is excluded for residents in New York State, as they won’t be allowed to employ this service.
When some users commented on Micheal’s announcement about the feature on Twitter, they indicated that it wasn’t working. Michael confirmed that both iOS and Android users have the option to use the feature. They should update or install the latest version.
CashApp was one of the first mainstream payment apps that supported Bitcoin in 2018, and it has been around since then. “We believe that bitcoin is the world’s best digital, sound money, period,” said Miles Suter, Crypto Product Lead at CashApp. “We believe that Bitcoin is for the people and that in America, Cash App is the financial app for the people.”
In addition to Cash App’s support of the Bitcoin lightning network, the layer 2 solution itself has been growing so well over the years. Blockchain.News reported earlier this month that the lightning rework has now passed the 5,000 BTC Benchmark. This marks an increase of 2000 BTC in just one year.
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