Twitter’s CEO (Chief Executive Officer), Jack Dorsey, had recently made it known that at this point in time, the social media platform may very well be integrating Bitcoin’s Lightning Network as support for the flagship crypto continues to gradually regain some momentum following El Salvador’s President Nayib Bukele’s recent decision to make BTC legal in his nation.
The Lightning Network may be understood as a scaling solution (layer-two) which has been constructed over the Bitcoin blockchain. Regarding what it shall be used for, Jack had said that it will most likely be utilized for the purposes of micropayments, however the full details of the integration have yet to be made public.
In related news, Jack had also sang the praises of Sphinx Chat, an encrypted messaging service that enables its users to communicate with one another through Lightning nodes.
Square making BTC hardware wallet
In related news, Square (the payment company of which Dorsey is the CEO and founder), is considering the possibility of potentially creating its very own BTC hardware wallet. Sqaure also has plans of constructing a BTC mining facility that will rely on solar energy to be powered, and Blockstream shall be assisting in this endeavour as well.
It is therefore easy to understand as to why Jack would claim that Twitter is eventually going to integrate itself with the aforementioned Lightning Network, as the Square CEO has stated on more than one occasion that he is absolutely willing to leave both his company and Twitter behind and start working on Bitcoin should the flagship cryptocurrency’s team ever need him.
Lightning Network growing at a fast rate
As per the statistics given by Bitcoin Visuals, the overall amount of nodes present on the abovementioned Lightning Network has, as of now, increased by more than double ever since June of last year.
Keeping this in mind, it must also be observed that, over the course of the previous couple of years, the Lightning Network has actually managed to make great leaps as far as its adoption may be concerned. Bitfinex had been the initial big exchange that had integrated it all the way back towards the end of 2019. More recently, another popular exchange by the name of Kraken had also stated that such functionality will be added this year.
Lastly, various merchants based in El Salvador would also prefer to have access to the Lightning Network for the purposes of accepting payments.