Twitter’s CEO, Jack Dorsey, has suggested in an implied tone that there is a possibility that Lightning Network will be integrated with Twitter. The question came from one of his Twitter followers who asked him about Lightning Network and in response Dorsey told the person that there is the probability of such happening. Dorsey is also the man in charge of a company known as Square which is the pioneer Bitcoin investor from the pool of institutional investors.
Jack Dorsey is a man who an entrepreneur is running the affairs of some of the biggest names in the world. He is the Chief Executive Officer of Twitter and Square Inc. He is also known to be the co-founder of Twitter but Square Inc. was exclusively founded by him. On the other hand, Square Inc. is considered the pioneer institutional investor for Bitcoin. Square was one of the prominent institutional investors who posed trust and confidence into Bitcoin and then invested huge funding in it. He is an important man in the US and globally who is also an investor and fond of Bitcoin.
Yesterday, when he was using his official Twitter account, one of his followers asked him about future developments in Twitter. In response, Dorsey said impliedly that there is a probability that he will introduce Lighting Network within Twitter. The discussion about Lightning Network was started at Sphinx – an app that is used for transmitting payments and communicating messages amongst designated users.
This system called “Lightning Network” is a secondary payment mechanism that facilitates payments in the network belonging to Bitcoin. The network was developed approximately five years ago for the purpose of executing micropayments by getting scalability. However, it wasn’t an easy task to employ and integrate the network in the real world and therefore the development took longer than expected. Currently, the developers have succeeded to employ the Lightning Network but there are still some limitations.
Similar announcements and hinting were made earlier by Dorsey as well yet so far nothing has happened. For instance, in the year 2019, when Cash App introduced Lightning Network, Dorsey was there. At that time as well he had hinted that he would be soon introducing the network within Twitter as well. At that particular moment in time, it was Square that had integrated Lightning Network because Cash App is an application belonging to Square. The Square application is utilized by Square’s customers for acquiring Bitcoins. Although Square is equipped with this sophisticated network there is still a difficulty for merging it with Twitter.
However, the integration of the network with Cash App is very successful. Since its integration, Square Inc. has been able to increase the limit of withdrawals, which was earlier 10K but now is 100K. The last withdrawal limit extension at Square took place in April this year and the occasion was duly covered by Bitcoin Magazine.