Twitter reportedly wants to allow users to tip content creators in Bitcoin using the Lightning Network.
The feature will use technology from the Lighting Network
Macrumors reports that Twitter is looking to integrate Bitcoin into several products, including Tip Jar. Twitter introduced Tip Jar back in May as a way for users to reward content creators on their social media platform, but if reports are accurate, it’s possible that alongside Cash App, PayPal and Venmo, users will also be able to reward content creators with Bitcoin.
The Bitcoin tipping feature will likely use technology from the Lightning Network payment gateway Strike to generate Bitcoin Lightning invoices. Since this technology is new to most users, Twitter can provide a short tutorial about Bitcoin and the Lightning Network. The tutorial may also include information about concepts such as custodial and non-custodial wallets for storing Bitcoin.
Jack Dorsey sees a lot of potential in the use of Bitcoin
When Dorsey was asked in July why he was focusing on Bitcoin and not Ethereum, he explained that he thinks Bitcoin is the best candidate for the Internet’s native currency. He said at the time, “If the Internet has a native currency, a global currency, we are able to move so much faster with products such as Super Follows, Commerce, Subscription, Tip Jar, and we can reach every single person on the planet because of that instead of going down on market-by-market approach.”
Outside of Twitter, Jack Dorsey also sees opportunities with the use of Bitcoin. In early August, he announced plans to build a decentralized exchange for Bitcoin, and the tech entrepreneur also said he plans to create a Square hardware wallet for Bitcoin.