Twitter CEO Jack Dorsey has said on the social network that every Twitter account could be linked to Bitcoin’s Lightning Network.
this is one thing that feels like would benefit the eth ecosystem way more than it benefits twitter https://t.co/IOOAidVFis
— st. (@seyitaylor) August 12, 2021
The conversation started with Brandon Jacoby‘s tweet mentioning as follows:
“Every account on Twitter should have a wallet address for storing NFTs. Users could select any NFT in their wallet to use as their avatar. Would serve as one of the biggest verified layers for showcase/distribution”.
Soon after, Seyi Taylor’s account responded:
“This is one thing that feels like would benefit the eth ecosystem way more than it benefits twitter”.
And finally the participation of Twitter’s CEO, Dorsey who, rather than favouring the Ethereum network, thought it best to take up the idea but linked to the Lightning Network.
“Agreed. Every account on Twitter being able to link to a Lightning wallet however…”
Then again, it’s not news that Dorsey is increasingly supportive of the queen of crypto, Bitcoin, rather than other blockchains.
At the end of last month, in an interview, the CEO of Twitter had explicitly stated that Bitcoin will play an important role in the future development of the platform. A way to decentralize social media more and offer economic incentives.
With regard to Ethereum, however, in another conversation on Twitter, Dorsey had explicitly stated that he had never invested in the second crypto, remaining a Bitcoin maximalist. His social network, on the other hand, seems to remain open to other blockchains.
Twitter and Lightning Network: the news on Bitcoin’s layer 2
Dorsey’s tweet may not have been so coincidental. Just a few days ago, Bitcoin’s layer 2, the Lightning Network, set a new record. In fact, LN’s total capacity had exceeded $100 million with 2,200 BTC locked on the network.
Today, the total capacity has already risen to $104 million with 2,275 BTC on LN. And who knows, maybe this increase in the adoption of Bitcoin’s Lightning Network will not continue its surge, which started exactly at the beginning of May 2021.
The price of BTC (related to the record $100 million LN capacity) also continues to hold above $40,000. In fact, specifically, from mid-June to early July 2021, the price of bitcoin was below that value. It wasn’t until the beginning of this August that the queen of crypto assets had its long-awaited price pump.
In fact, at the time of writing, BTC is hovering above $46,000.