Bitcoin Lightning Community on Twitter ‘Solely A Matter of Time’: Jack Dorsey

In short

  • Twitter CEO Jack Dorsey has mentioned that it is “solely a matter of time” earlier than Bitcoin’s Lightning Community is built-in into Twitter or BlueSky.
  • Dorsey has been engaged on BlueSky, a venture to create a decentralized social media commonplace, since 2019.

Twitter CEO Jack Dorsey is without doubt one of the loudest voices advocating for Bitcoin. Now he is placing his cash the place his mouth is, revealing that he plans to combine Bitcoin’s Lightning Community into both Twitter or the decentralized BlueSky platform.

Responding to a tweet asking Dorsey to “Construct LN into BlueSky or Twitter,” he responded that it was “Solely a matter of time.”

Lightning Community is a second-layer scaling answer designed to hurry up Bitcoin transactions and cut back prices by routing transactions by channels with no need to make use of the Bitcoin blockchain to confirm every transaction. It is related in precept to the settlement techniques utilized by the likes of Visa and Mastercard, shortly verifying the client’s funds and the vendor’s request earlier than settling the transaction later.

Dorsey did not specify whether or not Lightning Community can be built-in into Twitter or BlueSky, the venture to construct a decentralized commonplace for social media that he launched in December 2019. 

Since then, it is enlisted alums from Zcash and Interplanetary File System builders Protocol Labs to assist notice its imaginative and prescient; ultimately, said Dorsey, the aim is for Twitter to “in the end be a consumer of this commonplace.”

A Bitcoin maximalist, Dorsey additionally serves as CEO of funds firm Sq., which has purchased over 8,000 BTC (presently price almost $300 million) for its treasury. Sq. has additionally launched a Bitcoin Endowment to advertise crypto training, funded with curiosity from the agency’s company treasury.  

Talking on the Bitcoin 2021 convention earlier this month, Dorsey reaffirmed his dedication to the cryptocurrency, saying that, “If I weren’t at Sq. or Twitter, I’d be engaged on Bitcoin. If it wanted extra assist than Sq. or Twitter, I would go away them for Bitcoin.”

Source link