Twitter reportedly working on Bitcoin tipping feature
By Kathi on Sep 01, 2021 | 05:31 AM IST
Bitcoin tipping via the Lightning Network may be in the
cards for the next Twitter app update.
Twitter is
reportedly laying the groundwork to enable Bitcoin (BTC) tipping for content
creators.
According to MacRumors, the latest Twitter iOS beta
includes lines of code that could see Bitcoin become a part of the “Tip Jar.”
Indeed, as previously reported by Cointelegraph, Twitter CEO Jack Dorsey had
previously hinted that Bitcoin tipping was in the works.
Twitter introduced Tip Jar back in May as a way for users
to reward content creators on the popular social media platform.
If the reports of Bitcoin tipping are true, then BTC will
be added alongside Cash App, PayPal and Venmo as acceptable payment options on
the Tip Jar.
As part of the rollout, Twitter may provide a brief
tutorial about Bitcoin and the Lightning Network. According to a portion of the
text quoted by MacRumors, the Bitcoin tipping feature will utilize Lightning
Network payment gateway Strike to “generate Bitcoin Lightning invoices.”
The tutorial may also include information about concepts
such as custodial and non-custodial wallets for storing Bitcoin.
A Bitcoin tipping feature on Twitter is only the latest in
a string of BTC-focused adoption developments for the social media giant and
for Dorsey himself. Earlier in August, the Twitter and Square chief announced
plans to build a decentralized exchange for Bitcoin.
Dorsey has previously described Bitcoin as being the key to
Twitter’s future while stating the company’s intention to integrate BTC into
services like commerce and subscriptions.
Bitcoin tipping on Twitter via Lightning Network will also
confirm plans to integrate LN into the social media platform that first started
back in June. The move could also bring crypto token tipping to the mainstream
in fulfillment of one of the several use cases for cryptocurrencies espoused by
proponents.
In July, Dorsey also revealed that Square was developing an
“assisted custody” hardware wallet for Bitcoin.