Cash App, a mobile payment service developed by Block, Inc., has added support for bitcoin (EXANTE: Bitcoin) payments via a layer-2 payment protocol called Lightning Network. According to reports on social media, users can now send the cryptocurrency for free to a Lightning address.
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Last November, Cash App announced plans to integrate support for Taproot-enabled bitcoin wallets. The company noted the new type of wallets increases privacy features and reduces transaction fees.
Taproot went into effect on November 14, 2021, at block 709,632. The upgrade is expected to improve the privacy of the Bitcoin network with the so-called "Schnorr signatures" cryptographic scheme and the concept of Merkelized Abstract Syntax Tree (MAST). This is the first major upgrade for the Bitcoin mainnet since August 2017, when the blockchain network integrated the Lightning Network and Segregated Witness (SegWit).
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