Twitter CEO Jack Dorsey pointed out that merging the social network with the Lightning Network could happen very soon. The Bitcoin micropayment network could also merge with BlueSky.
Social media giant Twitter could soon integrate with the Lightning Network, the second-layer solution that facilitates Bitcoin micropayments. Twitter CEO Jack Dorsey, one of the most respected Bitcoin advocates in the crypto community announced the news.
Dorsey gave the information in a tweet responding to a user requesting about building LN [Lightning Network] on BlueSky or Twitter. BlueSky is a Dorsey side project that intends to decentralize social media. The CEO responded to the request saying that a future merge is possible, it is just a matter of time.
Lightning Network (LN), developed by Lightning Labs, is currently one of the main alternatives to balance the scalability and speed problems faced by the Bitcoin network.
Using a similar concept to the settlement systems implemented by Visa and Mastercard, which quickly set a verification procedure over the buyer’s funds and the seller’s request before settling the transaction, LN streamlines makes the transactions through the Blockchain using a second layer protocol and reduces costs by routing transactions through channels without implementing the Bitcoin blockchain to verify each trade.
Commitment to Bitcoin, the Main Cryptocurrency
Dorsey had taken to Twitter to share a link to the wallet and encrypted messaging service Sphinx Chat, which operates on the Lightning Network, to prompt the user to propose the integration.
The CEO did not bring further details about whether the Lightning Network would be integrated with Twitter or BlueSky, the project he launched in December 2019 to build a decentralized standard for social networks like Twitter.
Earlier this year, Dorsey invited technologists and developers to join efforts and contribute to the project. Since then, many developers have joined him, including former Zcash software engineer Jay Graber, who has already shown a review of the first BlueSky protocol.
Dorsey, who is a Bitcoin advocate, also serves as the CEO of payments firm Square, which has received more than 8,000 bitcoins, valued at close to $ 300 million, for the treasury. Square also has a cryptocurrency trading service, which has been a very successful feature when it comes to generating relevant profits for the company.
Although Dorsey did not provide enough details about such an initiative, it does not seem convincing to foresee that Twitter might one day bring more expansive support for Bitcoin, given Dorsey’s commitment to the crypto-world. He recently revealed, while speaking at the Bitcoin Miami conference, that he would be ditching Square and Twitter for Bitcoin if necessary.
He said on the matter that if he wasn’t on Square or Twitter, he would be focusing on Bitcoin. The comment came right after the CEO revealed the advances of his plans to develop a hardware Bitcoin wallet and invited the community to join the project.
By: Jenson Nuñez
