Twitter is making waves in the cryptocurrency community after teasing a Bitcoin integration plan.
Kayvon Beykpour, Twitter’s product lead, confirms that the company is committed to bringing Bitcoin’s Lightning Network to the social media platform.
The Lightning Network, created by software developer Lightning Labs, provides a potential scaling solution for Bitcoin, allowing it to process far more transactions per second than the main blockchain’s five transactions per second.
As part of Twitter’s Tip Jar program, which began testing earlier this year, Bitcoin payments on the Lightning Network would allow users to send money to others on the network. Users could deposit small sums of money into one’s “tip jar” without knowing the individual or exchanging payment information.
The beta test currently only supports Bandcamp, Cash App, Patreon, PayPal, and Venmo as payment methods. Users will be able to link Bitcoin addresses to their profiles in the near future.
Twitter is collaborating with global payments company Strike to enable the Lightning Network on its platform. Strike previously partnered with the country of El Salvador in May to develop infrastructure and support Bitcoin as a legal tender.
Many people have pointed out that not all parts of the world have access to Strike, citing Africa as an example. Twitter CEO Jack Dorsey responded by speculating that Strike might be coming to Africa soon through future partnerships.