The Lightning Network Trust Chain Torch has arrived in Kenya from Namibia after travelling some 4, 418KMs in 5.73s.
— #MelaninAcademy (@BitHubAfrica) January 29, 2020
The Lightning Network trust chain is a game where people on Twitter send bitcoin over the Lightning Network, peer to peer, Olympic torch-style. It was started by @hodlonaut in 2019 and this is the second iteration.
#LNTrustChain2 updated stats:
– 9 days
– 51 countries
– 148 participants
– 1.63M sats torch value
– 1.28BTC total transacted
– 5 thiefs pic.twitter.com/Ga4rcinUW7
— hodlonaut (@hodlonaut) January 28, 2020
The rules of this particular round is to increase the amount being passed on by 10,000 sats on each hop. As of this writing, Bithub Africa is holding the torch and looking to pass it on to the next person who is going to send them an invoice for a whopping 1.67 million sats or approx 0.0165 BTC.
The Lightning Torch caught a lot of attention the first time. Many well-known Bitcoiners participated — including Jack Dorsey, the founder of Twitter and Square, as well as Miss Universe Rosa-Maria Ryyti, Andreas Antonopoulos, and other personalities.
The aim of the game is to spread awareness of the Lightning Network and to stress test it, finding bottlenecks so it can be improved.
One advantage the Lightning Network creates for bitcoin is instant transactions. Transactions are completed within a matter of seconds; no waiting for 10 – 30 minutes confirmation.
The second advantage of the Lightning Network is that it is purpose built for small payments and excels at that because of the speed and cost effectiveness. You can make a 1 satoshi payment on the Lightning Network.
Follow #LNTrustChain2 on Twitter to get updates on the progress of the torch.
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The next hop from Kenya will be Ghana courtesy of Bithub […]