Who will become the world's single currency? Twitter chairman says Bitcoin is the only choice

"The world will eventually have a single currency, the internet will have a single currency. I personally believe it will be Bitcoin. It could happen in 10 years, but it could happen sooner," said Jack Dorsey, chairman of Twitter and founder of mobile payment Square, on March 21.

Dorsey once said that Square will focus on developing more content by the end of February 2018 to help people better understand Bitcoin. FX678 reported that Dorsey said in an interview with a reporter from The Times that he did not think Bitcoin could be an effective currency (medium of exchange) at present. Bitcoin transactions are slow and the fees are expensive. But as more people own it, these shortcomings of Bitcoin will be slowly forgotten by them.

Lightning Labs released the first mainstream bitcoin network, the Lightning Network (LN), on March 15, according to the Raiden Network development team. Social media commentators reacted online to the announcement, celebrating the progress Lightning is making towards providing nearly free and instant transactions to bitcoin users.

Despite having over 1,000 nodes and nearly 2,000 channels since December 2017, it still has its critics. Prominent industry figures, including core developer Peter Todd and Bitcoin.org creator Cobra, have voiced concerns that the technology is being rolled out too quickly without being fully tested.

“Please note that this release is intended for future Lightning application developers (Lapps) and technical users and prospective routing node operators,” the Lightning Labs blog post states. “In the early days of Lightning, we are focused on providing the necessary software infrastructure (like lnd!) to bootstrap the network and serve as a platform for future applications, services, and businesses.”