The payments application developed by Jack Dorsey's company Block has implemented Bitcoin's scalability solution, the Lightning Network.
Cash App has taken a new step in its goal of integrating new blockchain and Web3 technologies to improve its services. Recently, the Block payments app announced the integration of the Lightning Network to streamline Bitcoin payments from its platform.
The integration of the Bitcoin scalability solution to Cash App allows its millions of users to make instant payments without transaction costs anywhere in the world.
Instant BTC payments from Cash App
The developers of Cash App first announced their plans to integrate the Lightning Network into their payments application in 2019 and, although they have been implementing the blockchain scalability solution for days, it was not until this Thursday that they made its launch official.
On Twitter, Cash App confirmed that its US users, with the exception of New York state residents, can now enjoy the full Lightning Network experience from their payments app.
The striking thing about this integration is the possibility that Cash App users have to send and receive bitcoins quickly, free and securely without geographical limitations.
Lightning Network is the future of Bitcoin payments
The Lightning Network has seen exponential growth in the last year, increasing its Bitcoin capacity by 23% since mid-2022. This increase represents the growth, usage and adoption the network has had in scalability around the world. Currently, the Lightning Network's Bitcoin capacity is 5.233,77 BTC, according to data from the 1ML platform.
Likewise, the number of active Lightning Network nodes has also grown exponentially in recent months, with almost 16.050 active nodes at the time of writing this article.
Source: 1ML
The Bitcoin scalability network, which allows instant payments and micropayments to be made with the main cryptocurrency on the market, has become the main alternative solution for several companies.
Lightning Network Adoption
In October, NYDIG parent company Stone Ridge announced the creation of Wolf's Clothing, a company focused on accelerating the growth and adoption of the Bitcoin and Lightning Network ecosystem. Likewise, the fast food chain Subway began implementing Bitcoin payments through this network in several of its franchises in November of last year.
Also, MicroStrategy, Michael Saylor's business intelligence company, is working on developing new Lightning Network-based enterprise applications, which seek to improve the institutional adoption of Bitcoin as well as harness the potential of its disruptive technology.
Another of the integrations that stand out about the Lightning Network is the adoption by the company CoinCorner to allow users to easily send remittances immediately and without transaction costs between Europe and Africa.
Continue reading: Bitcoin Lightning Network for transactions between Europe and Africa
