Cash App Now Supports Lightning Network for Bitcoin Transfers
Main page News, Bitcoin, Twitter, Crypto Market

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.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

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.

Twitter Officially Launches Bitcoin Tips on Lightning Network

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).

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.

Read also:
Please describe the error