According to the Bitcoin magazine, Twitter – the popular micro blogging social media platform has started rolling out the earlier announced Lightning Network tips functionality on the Android version of the platform. The released show Twitter showing the custodial Strike option as a means for users to send tips via LN, because transactions on the Bitcoin base layer aren’t likely to make economical sense for small amounts being transacted.
Twitter tips features has already been available for Wealthsimple Cash, Venmo, Razorpay, Patreon, Chipper, Cash App and Bandcamp. However, this is the first time that it is being made available for a LN client. But, Strike is a custodial solution, which requires KYC and operates with strict limitation.
It’s not possible for any outside node to connect to Strike and route payments, all users require sign up and the need to disclose personal information. It’s highly surprising that Twitter has chosen to go that route first, instead of integrating LN solutions, where users control their own keys.
About Twitter Tips
Twitter tips allow profile monetization and fund collection by allowing users to send tips to each other through various services. The platform introduces the tips features as “People already drop links to their payment profiles in their bios and in their Tweets. Tips makes this easier to do, offering one fixed spot, right on your profile, where you can link to your Cash App, Patreon, Venmo and other platforms where people can support you”.
About Lightning Network
The Lightning Network is a “second layer” payment custom that runs on the Bitcoin blockchain. It allows immediate transactions between competing nodes and has been promoted as an answer to the bitcoin scalability difficulty. It highlights a peer-to-peer method for executing micropayments of cryptocurrency, through a network of payment channels without transferring administration of reserves and reducing the liability of third parties. The custodial solutions such as Twitter deployed Strike use a privately run exclusive LN variant.
Despite the fact that Lightning Network growth has been plagued by user interface and user experience issues, since its inception. It has been promoted as the solution by which Bitcoin can be used by the masses. The El Salvador Bitcoin legal tender declaration once again renewed hopes of LN’s mass adoption, however any noticeable effect remains to be seen. Twitter is likely to become the second biggest user of the L2 protocol, after complete rollout.
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