Block, recently known as Square, is now rolling the new Lightning Network feature for its popular Cash App. This enhancement came after Jack Dorsey, the former CEO of Twitter, stepped down from his position on the giant social media platform.
Now that he no longer works for Twitter, he can now focus on his digital payments company, Blockchain Inc.
Cryptocurrency services are becoming more popular than ever as digital coins increase their values. Many young investors are now more confident in entering the rising blockchain market.
Cash App's new Lightning Network feature can further influence more people to invest in cryptos, especially in Bitcoin, since the enhancements allow consumers to transfer BTC for free.
Block Cash App's Lightning Network Feature
According to Coin Desk's latest report, the new Lightning Network feature was already revealed by Block Inc. back in 2019. Now, some insiders claim that the company's Cash App is slowly rolling out the enhancement to U.S. consumers.
LOS ANGELES, CALIFORNIA - NOVEMBER 10: The Bitcoin logo is displayed on the side of a Bitcoin ATM on November 10, 2021 in Los Angeles, California. The price of the cryptocurrency hit a new record high today nearly breaking $69,000 as inflation has risen to a level not seen in 30 years.
They added that the Lightning Network function would be fully available to all American users in the coming weeks. However, those residing in New York State are not included.
However, Cash App still hasn't made any formal announcement regarding the rollout of its new feature. Although this is the case, more details about the Lightning Network enhancement were already revealed.
Lightning Network's Benefits
Thanks to the arrival of Cash App's Lightning Network, consumers can soon send or receive Bitcoin for free. Americans can conduct BTC transactions internationally without paying additional charges.
Once it is fully rolled out, Cash App users will be able to send BTC coins to any external compatible wallet. These include those for their friends, family members, as well as self-managed wallets, as reported by TechCrunch.
Chivo Wallet, Muun Wallet, and BlueWaller are just some of the services compatible with Cash App. If you want to know more details about this in-app upgrade, you can view this link.
In other news, Pakistan called out Binance because of the new massive crypto scam, which has already victimized some investors. Meanwhile, Mike Tyson decided to support the rising Solana cryptocurrency.
For more news updates about Cash App and other crypto services, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
