Cash App Integrates Bitcoin Lightning Network - Potential Hive/HBD to Cash App Bridge

frens, I hope you're doing well today. The crypto market has been in a big of a choppy phase trending toward the downside and there's definitely rampant fear. I don't consider it a bear market, even though it technically could be called that. I consider it an accumulation phase. Time to stack, not time to panic sell for a loss. In times like these, I feel like it's important to zoom out a little bit and pay less attention to the price. Instead we need to focus on what's actually happening in the crypto space.

Cash App + Lightning Network

Cash App is one of the most used and well known apps for sending and receiving money, at least in the U.S. It's stupid easy to use and works flawlessly. Users are able to send and receive money via their $cashtag and deposit/withdraw from the bank. They added Bitcoin quite some time ago without the option to withdraw and later added an actual wallet that you can send and receive from. They're no stranger to the Bitcoin game is what I'm saying. Today, they added Bitcion Lightning Network support. This comes as no surprise as Jack Dorsey (ex-CEO of Twitter and founder of Cash App) has come out as a huge Bitcoin supporter. He even hinted at the addition of Lightning Network back in 2019.

Source

Bitcoin Lightning Network is a layer 2 scaling solution for the Bitcoin blockchain. It enables cheap and instant transactions between Bitcoin addresses. If you've ever used Bitcoin, you know that it is very slow compared to a lot of the other cryptocurrencies out there and it's also more expensive. High transaction fees (not as high as Ethereum LOL) and slow block times leads to limited scalability for what was supposed to be "digital cash". Just like Ethereum, there needed to be a solution to enable scalability and faster transactions. In comes Lightning Network - not very widely used because it's kinda complex to integrate. I'm no expert and don't claim to understand it, but I do know that it isn't as easy as just using Polygon for Ethereum transactions.

Hive/HBD to Cash App via Lightning

@brianoflondon posted about Cash App enabling lightning earlier with a link to his experimental HIVE/HBD to lightning bridge @v4vapp. The value 4 value app lets you pay Lightning Network invoices in HIVE/HBD. I had no idea this kind of service existed, so that is pretty sick! I just recently started using @bscswap to move HIVE to Binance Smart Chain as well, which is pretty damn awesome. All these cool ass Hive tools need more spotlight, so here ya go! I have to say - this is an amazing service for use Hivers. This potentially means we now have a way to move funds from Hive to Cash App. I want to test this as I do live in the U.S. but I don't want to verify my identity. You have to do that in order to use the Bitcoin wallet. I'm probably going to do it later today just so I can test but it's annoying. This could, however, be a great off ramp to fiat because in the U.S. we don't have a lot of options for that with HIVE. Obviously, use at your own risk just like I said with the BSC bridge. It's experimental. I'd test only with small amounts.

The above image is a screenshot from the original post about V4V. I highly recommend checking out the project. Let me know if you test it. The more it gets used, the faster it can move from experimental to user-ready product.

Thanks for reading! Much love.

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