Twitter founder and CEO Jack Dorsey says the integration of Bitcoin layer-2 payments — the Lightning Network — into the social media platform may be on the horizon.
Fast Facts:
- After Dorsey tweeted out praise for Lightning Network-powered messaging app Sphinx Chat, one of his followers suggested that he integrate the Bitcoin payments network into his own companies, Twitter and BlueSky. “Only a matter of time” was Dorsey’s response.
- Dorsey has long professed an appreciation for Bitcoin, and cryptocurrency in general, and he was one of the featured guests at the recent Bitcoin 2021 conference in Miami. He also recently announced that his payments firm Square was considering adopting a hardware wallet for Bitcoin.
- The Lightning Network is a layer-2 protocol that works on top of the Bitcoin blockchain, and which is designed to negate high transaction fees and expedite payment times — which are only possible at seven transactions per second using BTC’s blockchain on its own. Integrating the Lightning Network into Twitter may enable its users to leverage the social app for micropayments.
