Bitcoin and Lightning Network Now Part Of Twitter
In what is considered another breakthrough moment for Bitcoin, Twitter have announced its tipping service on Thursday. Twitter users on Apple’s IOS can now connect third party tipping services and this includes the ability to link Bitcoin addresses and Lightning Network addresses. Android users will have to wait a little longer, but company representatives confirmed it is coming there “soon” as well.
Starting today, we’re rolling out Tips to everyone on iOS globally and bringing it to people on Android in the coming weeks. https://t.co/GXKPSIpWYT
— Esther Crawford (@esthercrawford) September 23, 2021
Twitter also confirmed that it will add non-fungible token (NFT) verification features to the platform. However, no specific timeline was mentioned for the feature, which is still in development.
The feature is part of a broader push to increase the options for Twitter users with large followings to monetize their content. The announcement didn’t address whether or when the functionality will extend to Twitter on the web.
Twitter’s tipping service will rely entirely on third-party payments services like Jack Maller’s Strike. Twitter is “not in the flow of funds” and does not take any commission on tipping proceeds, the company said. Depending on location in the world, different payments options or tipping services will be available to users.
I just published Announcing the Strike API
Today, @Twitter enables free, instant, global payments for their users with their integration of the Strike API.
— Jack Mallers (@jackmallers) September 23, 2021
The only exception will be the Bitcoin and Lightning options, which will be available to all Twitter users worldwide.
Twitter’s Product Executive, Esther Crawford, said during the company call where the announcement was made:
“There’s this great opportunity for us to choose global, barrier-less options. And Bitcoin represents one of the best options. We know not everyone around the world transacts with bitcoin yet, but we think it’s one of the better solutions.”
Morgan Creek Digital founder, owner of Pomp Investments and prominent member of the bitcoin community, Anthony Pompliano, said that undoubtedly the future is here now.
I just sent @jackmallers $5 across Twitter instantly.
This is the future.
Strike’s API just turned Twitter into one of the most powerful payment apps in the world.
Welcome to the future. Game on! pic.twitter.com/bpYU7p0Hi4
— Pomp (@APompliano) September 23, 2021
Crawford’s CEO, Jack Dorsey, had already hinted at the move, writing in June that it was “only a matter of time” before Twitter started integrating Lightning payments in some way. At the beginning of September, the feature was already rumored to come soon after Twitter’s product lead Kayvon Beykour retweeted a post by Italian mobile developer and known “leaker” Alessandro Paluzzi and included the words “soon”.
The Lightning Network is a “second layer” technology that provides faster and lower-fee Bitcoin transactions, which is crucial to the viability of sending tips in Bitcoin.
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Author: Peter Siu