Jack Dorsey’s division Block, formerly known as Square, has launched a new venture called C= (pronounced C equals) to improve the Bitcoin Lightning Network.
Improving Bitcoin Adoption Globally
The Lightning Network is a layer 2 payment network built to facilitate faster, cheaper and more reliable peer-to-peer payments and ease the mainstream adoption of Bitcoin. However, C= aims to further the reach of LN through added liquidity and routing services.
(Image credit: https://cequals.xyz/)
The LN’s liquidity and capacity have witnessed organic growth via real-world adoption since its launch. However, services like C= offer incremental upgrades to support the ongoing Bitcoin adoption globally. By providing liquidity, services, and infrastructure, C= caters to wallet users, businesses, and lightning node operators for faster and cheaper payments. The official announcement reads,
“We want to meet you where your lightning needs are. Are you a business looking to accept Lightning payments? A wallet in need of channels or inbound for your customers? A hardened plebnet veteran looking for your next big source?”
⚡️hello world. meet TBD’s @c_equals: https://t.co/j5ZYJmtS3J #lightning
— TBD (@TBD54566975) March 2, 2023
Layer 2 services collectively improving Bitcoin operations make it easier for people to adopt the ecosystem into their lives. This move aligns with Jack Dorsey’s vision for a more decentralized and inclusive financial system.
Easy Way to Report Taxes
Jack Dorsey’s popular payments venture, Cash App, recently integrated crypto tax and accounting software TaxBit into its services. The move allows Bitcoin users an easy way to report taxes. The addition of TaxBit to Cash App’s services demonstrates the company’s commitment to making crypto accessible and easy to use for everyone.
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Conclusion
In conclusion, C= aims to further the reach of the Bitcoin Lightning Network through added liquidity and routing services. This venture aligns with Jack Dorsey’s vision for a more decentralized and inclusive financial system. Furthermore, the integration of TaxBit into Cash App’s services demonstrates the company’s commitment to making crypto accessible and easy to use for everyone.
Overall, these moves by Block and Cash App show their commitment to the growth and adoption of cryptocurrencies, and they are helping make it easier for people to use Bitcoin in their everyday lives.
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Frequently Asked Questions
FAQ:
What is the Bitcoin Lightning Network?
The Bitcoin Lightning Network is a layer 2 payment network built to facilitate faster, cheaper and more reliable peer-to-peer payments and ease the mainstream adoption of Bitcoin.
What is C=, and what is its purpose?
C= is a new venture by Block, formerly known as Square, that aims to improve the reach of the Bitcoin Lightning Network with added liquidity and routing services.
Who is leading the C= project?
The C= project is led by CEO Jack Dorsey's division, TBD, which is a part of Block.
What are the benefits of using services like C= for businesses and individuals?
Services like C= offer incremental upgrades to support the ongoing Bitcoin adoption globally. Through liquidity, services, and infrastructure, C= caters to wallet users, businesses, and lightning node operators for faster and cheaper payments.
How has Cash App, another venture of Jack Dorsey's, recently integrated with the cryptocurrency space?
Cash App recently integrated crypto tax and accounting software TaxBit into its services, allowing Bitcoin users an easy way to report taxes.
