Mobile payment service Cash App has announced that the Lightning Network can now be used to transfer Bitcoin (BTC) through its app. With the new feature, users can send their BTC to any Lightning or BTC address on the network.
Lightning Network is now available in the Cash app. This is the fastest and free way to pay anyone in bitcoin. Buy tacos, tip your favorite Twitter comedian, or send money to a friend overseas—anywhere lightning is accepted.pic.twitter.com/65TXSJ6yL6 — Cash App (@CashApp) February 7, 2022
A few weeks ago, the company announced via an in-app notification that it had integrated the Lightning Network. Now its users can finally take advantage of this feature and take advantage of the benefits that the Bitcoin Lightning Network brings to everyday BTC transactions.
To use the Lightning Network on Cash app, users need to scan the Lightning QR with their cameras, confirm payment details, and click Pay.
The Lightning Network, sometimes referred to as Lightning or LN, is a layer 2 solution that enables the scalability of Bitcoin. Lightning reduces the load on the Bitcoin blockchain by creating a separate network where users transact and creating minimal interactions with the Bitcoin blockchain to reduce fees and speed up transactions.
While many users rejoiced that they could use the Lightning Network feature through their Cash app, some could only watch. As the company mentioned a few weeks ago, this feature will be available everywhere in the United States except New York. “New Yorkers are currently not eligible for Lightning,” Cash App tweeted.
Twitter user notgrubles disagreed. Users in New York are still eligible if they “have their own LN node,” he said. Due to the decentralized nature of Bitcoin Lightning Network transactions, it can be used by anyone, regardless of their location outside of the Cash App. ProofofBrain, another user, also echoed this sentiment by tweeting:
This is what makes Bitcoin + LTN so special. Flanking Regulators — Proof of Brain (@ProofofBrain_) February 8, 2022
Related: Blocking Job Postings Reveals Jack Dorsey’s Bitcoin Plans
Cash App is a service developed and operated by Block Inc., a company founded by Jack Dorsey. Back in 2021, Dorsey stepped down as CEO of Twitter. While he mentions that stepping down is a way to free the company from the influence of the founder, many speculate that the move means Dorsey will devote more time to bitcoin.