The mobile payment service’s Cash App has announced that the Lightning Network can now be used to transfer Bitcoin (BTC) through the app. With the new feature, users can send BTC to any Lightning or BTC address on the network.
A few weeks ago, the company announced via an in-app notification that it had integrated the Lightning Network. Users can now finally use this feature and benefit from the benefits that the Bitcoin Lightning Network brings in their daily BTC transactions.
To use the Lightning Network in the Cash app, users must scan a Lightning QR with their cameras, confirm payment details, and tap Pay.
The Lightning Network, sometimes referred to as Lightning or LN, is a layer 2 solution that enables the scalability of Bitcoin. Lightning eases the load on the Bitcoin blockchain by creating a separate network where users have minimal interaction with the Bitcoin blockchain to lower fees and speed up transactions.
While many users rejoiced that they can use the Lightning Network feature through the Cash app, some have only been able to see it. As the company mentioned a few weeks ago, this feature will be available everywhere in the US except New York. “New Yorkers are not currently eligible for the Lightning Program,” Cash App said in a statement.
Twitter user Grubles disputed it. He said users in New York were still eligible if they had their “own LN node”. Due to the decentralized nature of Bitcoin Lightning Network transactions, anyone can use them, no matter where they are outside the Cash app. Another Twitter user, Proof of Brain, echoed that sentiment, tweeting:
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Cash App is a service developed and operated by Block, a company founded by Jack Dorsey. Back in 2021, Dorsey resigned as CEO of Twitter. Although he stated that the exit is a way to free the company from the influence of the founder, many speculate that the move means that Dorsey will spend more time on bitcoin.