Litecoin creator and Managing Director of the Litecoin Foundation, Charlie Lee became the latest figure in the cryptosphere to hold the Lightning torch. Litecoin.com announced the development on its official Twitter handle,
According to the post by Litecoin.com, the chain had accumulated 4200k Satoshis and the torch had been passed to Bill Barhydt, the CEO of Abra. Lightning Network [LN], Bitcoin’s [BTC] second-layer scaling protocol gained significant traction following the Lightning Torch experiment.
Each new link in the experiment has added 10k satoshis to show the value that can be transferred off-chain, cited the blog post. The experiment saw the participation of several famous people in the cryptosphere in the two months since its inception. Twitter’s Jack Dorsey, Lightning Labs’ Elizabeth Stark, Monero’s Ricardo Spagni, Binance’s Changpeng Zhao, Bitcoin pioneer Eric Voorh, and Anthony Pompliano, among others, had previously held the torch.
The hashtag, #LNTrustChain began trending on Twitter to facilitate communication in the Litecoin community involved in the experiment. It all began with a tweet from @Hodlonaut, which stated:
“Some LN fun.. I send 100k sats with http://tippin.me to the first person I choose to trust that replies to this. That person adds 10k sats and sends 110k to someone [Either from reply to a new tweet, or this thread] .. and so on. How many sats before it breaks?”
@Hodlonaut had earlier admitted that the way the entire chain played out completely blew his mind.
Subscribe to AMBCrypto’s Newsletter
Binance CEO says excessive printing of fiat will lead to cryptocurrency market surge
Chayanika holds a Journalism degree and is currently working with AMBCrypto. She is inquisitive about everything that the Blockchain Technology has to offer.