Advertise
CoinTrust
BTC
ETH
BCH
SOL
DOGE
SHIB
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos
No Result
View All Result
CoinTrust
No Result
View All Result

Home » Will Square Emerge As Dominant Hub Of Lightning Network?

Will Square Emerge As Dominant Hub Of Lightning Network?

Kelly Cromley by Kelly Cromley
Feb 6, 2019
in Bitcoin News, Market News, News
Reading Time: 2 mins read
0

Serial innovator and Twitter CEO Jack Dorsey is also a well-known Bitcoin enthusiast and investor. He also owns Square, a payment processing company with a market cap of $29.75 billion. Square also supports trading Bitcoin through its Square Cash Application.

In line with other major social media platform providers, Square does not permit users from posting adverts related to cryptocurrencies, even though Dorsey is a strong supporter of Bitcoin. In fact, he anticipates Bitcoin (BTC) to become a global currency in ten years. On several occasions, he has revealed his positive opinion about the crypto.

In a recent interview with the Times and in a direct interaction through podcast, Jack has ascertained his optimistic view about the crypto. Jack continues to promote the adoption of Bitcoin as a currency of choice for micro-payment.

David Sacks, Kevin Hartz, Charlie Lee and several others invested $2.50 million in Lightning Labs founded by Elizabeth Stark. Following the news of investment in Lightning Labs, Dorsey said Lightning Network is “one of the most important projects in crypto overall adding that he is excited to be an investor”. With leading from Stark, Lightning Labs is working on the Lightning Network (LN).

LN, a scaling solution that ensures transactions are carried outside the main chain to attain speed, offers scalability and permits micro-payment. Due to this, the innovative solution offers trust but causes concern about possible centralization through hubs.

However, necesary action has been taken to ensure security, such as the launch of multi-hoop routing and conditional payments, cryptographic evidence and time-outs. Additionally, payments can be done only when both parties are online and use LN-supported Bitcoin wallets.

Jack Dorsey is supporting Bitcoin because he has a genuine interest in the Lightning Network. It should be remembered that one of the LN operates around central hubs and both parties must use a wallet to support the LN. Therefore, with Square promoting BTC purchases and not vice versa, it is logical to make a judgment that Square will act as a custodial wallet for the LN in some manner.

Square is therefore likely to emerge into this centralized hub and make profit not only from spreads (difference between buying and selling price of BTC), but also from service fees as a favored hub from which users can open channels. This is the only way, if anything, for ordinary consumers to pay for their coffee using BTC fueling adoption. And their objective is not a distant dream.

After all, the Square network is an established name in the United States. With Square behaving as a custodial wallet and a typical hub, traders will easily receive their BTC, and since LN can handle billions of transactions in a second, more people will be lured towards using it, paving the way for mass adoption.

Previous Post

Facebook Ropes In Executives Of Blockchain Firm Chainspace

Next Post

New ‘Halving’ Binary Contract Introduced By LedgerX

Related Posts

coinbase partners with perplexity ai

Coinbase Taps Perplexity AI to Deliver Smart Crypto Insights

by Kelly Cromley
Jul 14, 2025
0

Coinbase has entered into a strategic collaboration with Perplexity AI to provide users with real-time cryptocurrency market data through artificial...

Hedera

Hedera Moves Closer to AI Mainstream with Intel and NVIDIA Support

by Kelly Cromley
Jul 14, 2025
0

Hedera, a decentralized public blockchain, appears to be stepping into the spotlight as a key enabler of artificial intelligence infrastructure,...

Kenya

Kenya Launches $KDT Token on Solana Blockchain to Drive Digital Inclusion

by Kelly Cromley
Jul 14, 2025
0

Kenya has taken a notable step toward embracing digital innovation through the public endorsement of a private sector-led initiative to...

imagen network

Imagen Integrates XRP for Faster Web3 Social Transactions

by Kelly Cromley
Jul 13, 2025
0

Imagen Network, a decentralized social platform driven by artificial intelligence, has introduced XRP-based liquidity modules across its multichain infrastructure. This...

endless partners with rei network

Endless and REI Network Join Forces to Simplify Web3 Development

by Kelly Cromley
Jul 13, 2025
0

Endless Protocol has announced a strategic partnership with REI Network, a lightweight blockchain infrastructure developed by GXChain Global. The collaboration...

Injective Blockchain Faces Backlash as INJS Minting Comes to Abrupt Halt

Injective Forms Power Council to Bridge Web2 and Web3

by Kelly Cromley
Jul 13, 2025
0

Injective has unveiled the Injective Council, a newly established strategic advisory group comprising senior representatives from major Fortune 500 firms...

Next Post
New ‘Halving’ Binary Contract Introduced By LedgerX

New ‘Halving’ Binary Contract Introduced By LedgerX

  • Collé Ai

    Collé: Pioneering AI Web3 Platform Receives Investment Boost from BlackRock

    by Kelly Cromley
    May 13, 2024
  • Router Protocol and OpenWorldSwap Partnership to Revolutionize DEX Market

    by Kelly Cromley
    Aug 6, 2024
  • Hyper Foundation Launched to Boost Hyperliquid Blockchain Development

    by Kelly Cromley
    Oct 15, 2024
  • Central Bank of Saudi Arabia Teams Up with Ripple to Transform Cross-Border Settlements

    by Kelly Cromley
    Aug 17, 2023
  • GameStop’s Digital Transformation: Embracing Blockchain and NFTs

    by Kelly Cromley
    Feb 2, 2025

Recent News

coinbase partners with perplexity ai
Market News

Coinbase Taps Perplexity AI to Deliver Smart Crypto Insights

by Kelly Cromley
Jul 14, 2025
Hedera
Market News

Hedera Moves Closer to AI Mainstream with Intel and NVIDIA Support

by Kelly Cromley
Jul 14, 2025
Kenya
Market News

Kenya Launches $KDT Token on Solana Blockchain to Drive Digital Inclusion

by Kelly Cromley
Jul 14, 2025
imagen network
Market News

Imagen Integrates XRP for Faster Web3 Social Transactions

by Kelly Cromley
Jul 13, 2025
endless partners with rei network
Market News

Endless and REI Network Join Forces to Simplify Web3 Development

by Kelly Cromley
Jul 13, 2025

Categories

  • Altcoin News
  • Analysis News
  • Binance Coin News
  • Bitcoin News
  • Blog
  • Cardano News
  • Ethereum News
  • ICO News
  • Legislation News
  • Market Forecasts
  • Market News
  • News
  • Ripple News
  • Solana News
  • Tether News
Trustpilot

Cointrust

  • About Us
  • Contact Us
  • Correction Request
  • Our Team

Legal

  • Disclaimer
  • Terms & Conditions
  • Privacy Policy
  • Cookie Policy

Popular

  • ICO Listings
  • Knowledge Base
  • All about Mining
  • Cryptocurrency Exchanges
  • How and Where to buy Cryptocurrency

Sitemap

  • News section
  • Sitemap
  • XML Sitemap

© 2024 CoinTrust.com.

CoinTrustCoinTrust

* DISCLAIMER: All information provided in CoinTrust is merely for informational purposes, we are not an investment advisor and not affiliated with any companies or ICO/Cryptocurrency Projects. To use this website you must accept our cookie policy, Disclaimer and Privacy Policies.

No Result
View All Result
  • News
  • Bitcoin
  • Ethereum
  • Altcoin
  • Market Cap
  • Learn
    • Buying Crypto
    • Crypto Mining
    • Crypto Exchanges
    • Knowledge
  • Crypto Casinos
    • Bitcoin Casinos
    • New Crypto Casinos
    • No KYC Crypto Casinos
    • Anonymous Crypto Casinos
    • VPN Friendly Crypto Casinos
    • Bitcoin Poker
    • Crypto Poker
    • Bitcoin Bingo
    • USDT Casinos
    • Offshore Online Casinos
    • Bitcoin Betting Sites
    • Crypto Sports Betting
    • Reddit’s Best Bitcoin and Crypto Casinos

© 2024 CoinTrust.com.

We use cookies to ensure that we give you the best experience on our website.
If you continue to use this site you agree to allow us to use cookies, in accordance with our Cookie Policy.
I Agree