Jack Dorsey, CEO, and co-founder of social media giant Twitter has confirmed in a tweet that he intends to integrate Bitcoin’s Lightning Network with one of his existing businesses. If implemented, the layer-two scaling solution designed on top of the Bitcoin blockchain could enable micropayments functionality. Dorsey is yet to elaborate on his plans for integration.
Either Twitter or BlueSky Could Be Integrated with Lightning Network
Dorsey made the revelation in response to a tweet, saying that integration with the Lightning Network is only “a matter of time.” The post he responded to had asked for the protocol to be built into either BlueSky or Twitter.
Only a matter of time
— jack (@jack) June 11, 2021
The protocol has seen increased adoption in the past few years. In 2019, Bitfinex became the first leading exchange to integrate the technology. Kraken too has hinted at adopting the protocol. Additionally, merchants in El Salvador will be required to accept BTC payments and conduct transactions on the Lightning Network, given the legalization of Bitcoin in the country.
According to Bitcoin Visuals, the payment protocol has witnessed a two-fold increase in the number of its nodes since last June.
Dorsey’s Company Square Considering Its Own Bitcoin Hardware Wallet
Earlier this month, Dorsey disclosed that his digital payments company Square is considering the development of its own Bitcoin hardware wallet. He claimed that the open-source project will be aimed at everyone while underlining the significance of a non-custodial solution. Following that announcement, Square unveiled its $5 million partnership with Blockstream to build a solar-powered Bitcoin mining facility.
Dorsey is a leading advocate for the flagship cryptocurrency. His company Square has been ramping up its efforts over the last few years to make crypto adoption easier. Dorsey also believes that Bitcoin mining boosts the adoption of renewable energy sources. In December, Square pledged $10 million to Bitcoin Clean Energy Investment Initiative.