The cryptocurrency ecosystem has recently been very active in the development and growth of Bitcoin’s Lightning Network. The introduction of Lightning Network has been getting more and more attention due to ever-increasing support for an improved rate of adoption.
Changpeng Zhao, CEO of Binance exchange recently tweeted through his support for the implementation of Lighting Network through his Twitter.
The wider adoption of Bitcoin’s Lightning Network has been assisted by the ‘Lightning Torch,’ a social experiment that has generated a lot of attention for the network.
According to the LN developers, Bitcoin’s Lightning Network offers significant improvements over major issues that plague common payment systems. The LN is supposed to enable users to transfer capital across the globe without the involvement of a third party, unlike MasterCard or PayPal.
With the help of the social platform Twitter, the experiment has caught enough momentum and people are passing the “torch payment” from one person to another after adding 10,000 satoshis [valued at $0.357 at press time] to the payment, before passing it further forward.
The experiment has got a lot of high-profile personalities to participate in the BLT [Bitcoin Lightning Network] experiment, including the CEO of Twitter, Jack Dorsey who openly participated and by extension, promoted the Bitcoin LN. Jack Dorsey had recently dubbed Bitcoin as the future “native currency” of the internet.
Regarding the experiment he had stated,
The Lightning Torch was recently passed on to Changpeng Zhao and the founder of Binance exchange was also happy to engage in the experiment and demonstrate his support for the cause.
Zhao has passed on the lighting torch to the Tron Foundation’s CEO Justin Sun who was delighted to be part of the experiment as well.
He tweeted that,
Justin Sun’s shout out and endeavour to pass on the Lightning Torch failed however as Tesla CEO Elon Musk and NBA player Kobe Bryant failed to respond and participate.
The Lightning Torch is now in the possession of Shapeshift exchange’s CEO, Eric Voorhees who recently tweeted on the subject.