The second version of the “Lightning Torch” (LN Trust Chain 2.0) was recently launched on its birthday, and the community keeps spreading it around the globe. Its primary purpose continues to be the same – to raise people’s awareness of the benefits of Bitcoin’s off-chain scaling solution – the Lightning Network.
The New Lightning Torch: LN Trust Chain 2.0
The “Lightning Torch” started as a fun initiative on January 19th, 2019, to bring more attention to Bitcoin’s off-chain scaling solution – the Lightning Network. Upon its birthday, a year later, the second version of the lightning torch was released and has been on the move ever since.
At the time of this writing, 94 torchbearers from over 40 countries have held it in the past three days. The latest holder has recently sent an invoice for 1060000 satoshis to the previous one. The “torch” is currently situated in Japan, and just in the last several hours has also been in India, Laos, and Bulgaria.
Cryptopotato had the chance to speak about the “LN Trust Chain” with the popular analyst and prominent crypto proponent, Mati Greenspan, who noted:
“The torch is a great way to raise awareness and familiarity with the lightning network. It also serves as an excellent test of the network, finding bugs and testing liquidity and such. Bitcoin Lightning still has a long way to go before it’s ready for mainstream usage. Hopefully this exercise can help it to get there.”
Lightning Torch History
The Lightning Network was created in 2015, and it’s intended to serve as Bitcoin’s off-chain scaling solution. It allows people to send funds faster without a third party, but it had a slow start.
At the beginning of 2019, one of the most popular bitcoiners, Hodlnaut, inadvertently launched what would soon become one of the most exciting community phenomenons – the “Lightning Torch.” A year later, the torch is on the move again.
Using the LNTrustChain2 hashtag, the lightning torch circulates crypto twitter, raising awareness of the benefits of the Lightning Network. It’s transferred from one person to another peer-to-peer.
By using only the social media platform, people can request to receive the torch from the current holder. However, before the latter can send it away, he or she has to add 10,000 satoshis to the “torch,” thus creating Bitcoin’s version of the snowball effect, and it’s curious to see how far it can get.
The Lightning Network has been continuously growing in the last few years, as a recent report demonstrated. The Network Capacity has risen with 3% over the past month to over 882 BTC. At the same time, the Number of Nodes also increases with 2.41% to 11,126.
It’s unclear if the “Lightning Torch” has a definite contribution to LN’s developments, but it’s an innovative and exciting initiative that has many people involved.