09.12.2021

Twitter tests sending and receiving bitcoin payments via the Lightning Network

Twitter is gradually making progress in integrating  bitcoin into its social network. MacRumors  draws attention to the fact that Tip Jar, which Twitter launched last year to reward content creators, now has the option to transfer BTC.  

The initiative came after Twitter CEO Jack Dorsey  said that Bitcoin is important to the company and will be integrated into various services in the future.

We are talking about functionality in the application code itself. According to current developments, users will be able to use bitcoin through Lightning Network payment channels, as well as through custodial and non-custodial bitcoin wallets. The instructions suggest using Strike, Blue Wallet and Wallet of Satoshi custody wallets.

Non-custodians include Muun, Breez, Phoenix and Zap.

  • Twitter has added the ability to make payments in BTC to its application code.
  • The solution is powered by the Tip Jar service, launched last year to reward content creators.
  • The function of sending and receiving BTC is not yet available to users.

Users are not yet able to test this feature. However, it is reported that in the future, to use the new functionality, you will need to have a Strike account.

“We need Strike to create Lightning accounts, so users need to connect their account in order to receive donations in BTC,” the company says.

Tip Jar has supported payments through Bandcamp, Cash App, Patreon, PayPal, and Venmo since its inception, but Twitter CEO Jack Dorsey said in July that he sees great potential in Bitcoin as a global currency for the internet. He also announced that he intends to integrate the cryptocurrency into the social network.

It is believed that bitcoin is not suitable for small instant transfers due to its low bandwidth. Lightning Network technology is designed to solve this problem. Recently we looked at it in comparison with the ETH 2.0 We do .

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