Cash App Integrates Bitcoin Lightning Payments

January 12, 2022 admin Bitcoin Cash 0

Cash App, the peer-to-peer payment service owned by Block, formerly Square Inc., has integrated the Lightning Network. 

The feature, which allows transactions between parties not on the blockchain network, is now available on Bitcoin’s blockchain, CryptoNews reported. It was developed to fix the flagship cryptocurrency’s scalability issues.  

Block CEO Jack Dorsey, who was the former Twitter CEO, has been supportive of adding the tool for years. In 2019, he told podcaster Stephan Livera that “it’s not an ‘if,’ it’s more of a ‘when’” they would integrate the scaling technology with payments firm Block‘s mobile app.

“We don’t think it stops at buying and selling [bitcoin],” he said.  

In November, TheTapeDrive editor-in-chief and contributing writer at MacRumors Steve Moser tweeted that Cash App “is working on Lightning network integration.” By December, Moser said he found evidence that Cash App was preparing the launch of the new features. 

Cash App is not the only payments services seeking scalability.  

Last month, ConsenSys, the Ethereum blockchain software company, in collaboration with Mastercard, introduced a tool used to make blockchain technology scalable on the Ethereum Mainnet or for private use. 

Read more: ConsenSys Teams With Mastercard to Debut Tool Aimed at Scalability on Ethereum Blockchain 

ConsenSys Rollups is a modular software solution for permissioned blockchain applications. It was developed to provide scalability and privacy capabilities that can be connected to any Ethereum Virtual Machine-compatible blockchain. 

The software leverages zero-knowledge proof technologies to safeguard various transaction elements, including account balances, sender, recipient and amount to thwart the public sharing of personal information across the network.

ConsenSys said zero-knowledge proof technologies enable a party to illustrate their knowledge to another without sharing actual information and is used to authorize transactions without having to execute them on the blockchain network. 

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