13 years ago since first BTC transaction ever, Jack Dorsey announces Dev Fund and LN integration in Cash App

Photo by Quantitatives.io on Unsplash

First Bitcoin payment ever to Hal Finney

Today, it’s 13 years ago that Satoshi sent his first Bitcoin transaction to Hal Finney. The payment is confirmed in block 170. It’s a 50 BTC block subsidy which is spent into outputs from 10 BTC and 40 BTC.

The very first block was mined on the 3rd of January in 2009.

Finney was diagnosed with ALS syndrome (Amyotrophic Lateral Sclerosis) and he died August 2014. In accordance with his wish, his body has been cryonically frozen.

Cash App integrates Bitcoin Lightning Network for faster BTC transfers

American mobile payment service Cash App has integrated the Bitcoin Lightning Network as a part of an update. It allows faster and cheaper BTC transfers using the Layer 2 (L2) payment protocol.

Cash App is developed and owned by Block (formerly Square). It’s CEO is Jack Dorsey who also co-founded Twitter.

Lightning is a network of payment channels between nodes. Everyone can send bitcoin without using the blockchain: there are no limits with regards to the block size, block time and mempool.

Jack Dorsey announces a Legal Defense Fund for Bitcoin developers

But Jack Dorsey is doing much more in the Bitcoin space. He also announced plans to create a “Bitcoin Legal Defense Fund,” a nonprofit initiative entity tasked with providing a legal defense for Bitcoin developers, which is “currently the subject of multi-front litigation.”

The proposal was announced in an email sent to the Bitcoin developer’s mailing list on January 12.

“The Bitcoin Legal Defense Fund is a nonprofit entity that aims to minimize legal headaches that discourage software developers from actively developing Bitcoin and related projects such as the Lightning Network, Bitcoin privacy protocols, and the like.”

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