Cash App will be using the layer 2 payment protocol, known as the Lightning Network, which will enable faster transactions with smaller fees.
The mobile payment app, developed by Jack Dorsey’s Square, has seen major success after enabling Bitcoin support in 2018. However, like any other platform with crypto support, CashApp had high transaction fees.
Earlier in 2019, Jack Dorsey spoke with Stephan Livera on the Lightning Network. Dorsey hinted that it was in the works, but he wasn’t sure when exactly the layer 2 protocol will be implemented into Cash App.
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Fast forward to 2022, January 11th, users of the mobile payment platform were apparently informed of the update through notifications from Cash App. One user on Twitter shared a screenshot of the notification:
By implementing the layer 2 protocol, Cash App is expected to be a lot more fluid with its transactions of Bitcoin, and fees should be less of an issue for users who engage in trading at high volumes.
