Cash App states that users in New York are not able to use the Lightning Network feature.
Cash App, a mobile payment app, announced that Lightning Network can now transfer Bitcoin (BTC). Users can now send BTC to any Lightning address or on-chain BTC address with the new feature.
Lightning Network is now available in Cash App. This is the fastest and most cost-effective way to pay anyone with bitcoin.
Send money to friends abroad, buy tacos or tip your favorite Twitter comedian. pic.twitter.com/65TXSJ6yL6
— Cash App (@CashApp), February 7, 2022
The company had announced the integration of the Lightning Network a few weeks back via an app notification. Its users now have the ability to use the feature and benefit from the Bitcoin Lightning Network’s benefits in everyday BTC transactions.
Lightning Network on Cash App users must scan a Lightning QR with their cameras to use the app, confirm details of the payment and then tap on “Pay”.
Lightning Network is sometimes called Lightning Network or LN. It’s a layer-2 solution that adds scalability and security to Bitcoin. Lightning reduces the burden on the Bitcoin blockchain. It creates a separate network for users to transact, and makes it easier for them to make transactions. This helps to lower fees and speeds up transactions.
Many users were happy to be able use Lightning Network through their Cash App. Others could only watch. The feature will be available in all 50 states, except New York. This was announced by the company a few weeks back. Cash App tweeted that Lightning is not available to New York residents at this time.
Grubles, a Twitter user, disagreed. Grubles, a Twitter user, disagreed. Proof of Brain, another user on Twitter, tweeted:
This is why bitcoin + LTN is so special. Flank the regulators.
— Proof of Brain (@ProofofBrain_ February 8, 2022
Related: Jack Dorsey’s Bitcoin plans revealed by job postings in Block
Cash App was developed by Block, a company that Jack Dorsey founded. In 2021, Dorsey was appointed Twitter’s CEO. Although he stated that his resignation was to allow the company to be free from its founder, many speculate that Dorsey will now spend more time working on Bitcoin.
