December 1, 2020

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Jack Dorsey introduced a plan to support Bitcoin

1 min read
Jack Dorsey introduced a plan to support Bitcoin

Technology titan and co-founder of Twitter and Square, Jack Dorsey, unveiled his plan to support Bitcoin’s acceptance with Square Crypto, a mobile payment company.

 

Bitcoin support

Jack Dorsey says Square Crypto is building the Lightning Development Kit (LDK). The product is designed to provide developers with an easy way to improve scalability with existing and new bitcoin wallets.

Jack said on Twitter that the whole company is focused on Lightning. The project is designed to make the bitcoin network much faster and cheaper. In addition, it will include demo applications, language links and other features for easier integration of Lightning.

Jack Dorsey introduced a plan to support Bitcoin

Square Crypto further says that they considered many ways before finally deciding to create LDK.

“WALLETS AND APPLICATIONS REQUIRE VARIOUS STORAGE AND BACKUP MECHANISMS, SECURITY APPROACHES AND MANY MORE.”

Other companies focusing on the improvement of the bitcoin network, Blockstram and Lightning Labs joined the Square Crypto project. The Lightning Network was launched in March 2018 and has not yet been spread to most users.

Summary

It is only a matter of time before the Lightning network is fully integrated into the bitcoin network. Bitcoin transactions thus become very fast with almost zero payment fees.

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