Does BTC accelerate the development of Twitter? Twitter launches BTC reward service for iOS users
The crypto market experienced a short-term decline when the Federal Reserve announced its interest rate decision. However, as the boots landed (the Fed said that if the inflation rate remains high in 2022, the Fed may have reached the conditions for raising interest rates), the crypto market stopped falling. Subsequently, market news circulated that Twitter would add Bitcoin as a tip payment method, and roll out the iOS tipping mechanism around the world. It will soon support Android. It also plans to introduce a feature that allows users to verify and display irreplaceable tokens ( NFT). After the release of the news, Bitcoin moved higher again in a short-term.
According to TechCrunch, Twitter will support traditional payment platforms such as Venmo and Cash App as well as Bitcoin.
Bitcoin tipping is achieved through Strike. Strike is a payment platform built on the Bitcoin Lightning Network. It has launched an API platform for businesses and Twitter partners. It supports the use of Bitcoin for instant global payments and allows users to send for free immediately. Or receive cryptocurrency. In addition to adding a lightning wallet, users can also add a bitcoin address to receive.
As of press time, according to official Twitter news, users must be at least 18 years old to request, receive or send “bounty/tips” on the Twitter platform.
In addition, Twitter is also exploring blockchain-based tools outside the scope of monetization. Twitter also plans to launch an NFT identity verification feature, where users will directly connect their encrypted wallet to their account to prove the ownership of the artwork, although this particular product is still in its early stages.
The various layouts of Twitter are not unexpected, Twitter and Square CEO Jack Dorsey (Jack Dorsey) has repeatedly supported Bitcoin personally and professionally. In July of this year, at the “B-Word” conference hosted by the CryptoCouncilforInnovation, Dorsey reiterated his enthusiasm for Bitcoin and expressed the hope that it would bring world peace.
At the 2021 Bitcoin Conference in June this year, Dorsey explained that he believes that Bitcoin is a way to prevent currency devaluation and speed up cross-border fund transfers.
In addition, Dorsey believes that transparent currency has many innovations, especially in terms of decentralization of social media and providing more economic incentives. Therefore, Bitcoin is very important to Twitter and Twitter shareholders, I believe that Bitcoin can bring rapid development and innovation.
Twitter CEO Jack Dorsey made it clear that Bitcoin is an important part of Twitter in the future, and Bitcoin will accelerate the development of Twitter. But Jack Dorsey’s plan seemed much more than that. Earlier, Jack Dorsey disclosed a “pending” project plan. He said at the time that the project would focus on developing an open source financial service platform dedicated to Bitcoin.
According to Dorsey and Mike Brock, the executive officer of CashApp who is in charge of the plan, the project has a clearer roadmap to create a decentralized exchange. Brock pointed out that the exact design principles of the platform have not yet been fully determined, and emphasized that Rootstock, a Bitcoin sidechain that supports smart contracts, is a potential choice.
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