Jack Dorsey, the CEO of Twitter, is one of Bitcoin's most voracious advocates. Last week, the entrepreneur revealed that he plans to integrate Bitcoin's Lightning Network into Twitter.
Only a matter of time— jack (@jack) June 11, 2021
Lightning Network is a second-tier scaling solution designed to accelerate Bitcoin transactions and reduce costs by routing transactions through channels, without the need to use the Bitcoin blockchain to verify every transaction.
The Lightning Network is similar in principle to the settlement systems used by companies such as Visa and Mastercard, quickly checking the buyers funds and the seller requests before settling the transaction later.
In addition to Twitter, Jack Dorsey is also CEO of payments company Square, which has purchased more than 8,000 BTC for its treasury. The company also launched a Bitcoin Fund to promote education in cryptocurrencies, financed with interest from the company's corporate treasury.