A new Bitcoin protocol has been introduced that simplifies the process of making payments, enhancing the user experience for transactions. This update aims to streamline operations and reduce the complexity associated with Bitcoin payments, potentially increasing adoption among users and merchants alike.

Jack Dorsey's company, Block, is set to enable Bitcoin payments on Square terminals, allowing merchants to accept cryptocurrency transactions. This move aligns with Dorsey's vision to integrate Bitcoin into everyday commerce and expand its usage globally. The initiative aims to simplify the process for businesses to adopt cryptocurrency payments seamlessly.

Square has launched Square Bitcoin, an integrated solution for local businesses that facilitates bitcoin payments and wallet management with no processing fees for the first year. The platform allows sellers to accept bitcoin, automatically convert card sales into bitcoin, and manage their finances seamlessly within the Square ecosystem, aiming to simplify the use of cryptocurrency in everyday commerce.