Twitter Considering to Add Tipping Service Using Bitcoin (BTC)
Twitter is Adding Tipping Service Using Bitcoin (BTC)
According to MacRumors, the latest Twitter beta indicates that the new feature is currently being tested with mobile developer Alessandro Paluzzi posting an image of what the service may look like.
Based on the screenshot, the tipping feature will use Lightning Network, a Layer Two payment protocol built on the Bitcoin blockchain to make micropayments in BTC. Added features include support for custodial and non-custodial wallets.
To avail the service, Twitter users will require a Strike account to receive the tips, according to the texts:
“We use Strike to generate Bitcoin Lightning invoices so you’ll need to connect your account to accept Bitcoin tips”
Besides Twitter, Dorsey is also the CEO of Square, a Bitcoin-friendly payments app that holds a significant amount of the leading cryptocurrency on its balance sheet. In 2020, Square purchased $50 million worth of Bitcoin before making another investment of $170 million.
Jack Dorsey is Bullish on Bitcoin
The arrival of Bitcoin tips on the social media platform doesn’t come as a surprise considering Jack Dorsey already implied that BTC will be coming to the “Tips Jar” feature which was introduced back in May.
Prior to that the Twitter CEO said that it was “only a matter of time” before the platform integrated the Lightning network. At the time, he touted Bitcoin as the native currency of the internet, saying:
“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.”
Alongwith the topping feature, the microblogging site also launched the long-awaited “Super Follow” that allows payments to access exclusive content from certain Twitter accounts. Currently, the feature is being rolled out to users in the U.S. and Canada and will soon be available in other regions.