The second Bitcoin "Lightning Torch" initiated again, spanning 40 countries worldwide within three days

The Bitcoin "Lightning Torch (LN Trust Chain)" relay event has once again ignited fervor within the cryptocurrency community on Twitter. As of now, 106 cryptocurrency enthusiasts have participated in the relay, spanning across at least 46 countries.

The Origin of the Lightning Torch

The Lightning Torch originated in January 2019, initiated by a Bitcoin enthusiast known as Hodlonaut on Twitter. Started by Hodlonaut, each participant who receives the torch must "add" 10,000 sats and pass it on to the next participant.

Some LN fun..

– I send 100k sats to the first person I choose to trust that replies to this tweet with a 100k sats LN invoice
– That person adds 10k sats and makes a tweet asking for a 110k sats LN invoice

.. and so on

How many sats before it breaks?#LNTrustChain2

— hodlonaut 🌮⚡🔑 🐝 (@hodlonaut) January 19, 2020

Sat is short for Satoshi, the smallest unit of Bitcoin, equal to one hundred millionth of a Bitcoin, i.e., 0.00000001 BTC.

The purpose of the Lightning Torch is to emphasize the speed and borderless nature of the Lightning Network, showcasing how Lightning payments can provide global financial services.

In the 2019 event, the Lightning Torch gained popularity and became a global phenomenon, with hundreds of participants, including notable figures like Twitter's founder Jack Dorsey, from at least 54 countries, demonstrating the powerful borderless payment capabilities.

The Second Lightning Torch Spreads Faster

On Sunday, Hodlonaut claimed to have reignited the torch in "a moment of impulse." The second edition of the Lightning Torch spread even faster, reaching 91 people within three days, and currently reaching 106 people, now extending to Vietnam. Hodlonaut stated:

The torch traveled to over 30 countries last night while I was asleep. It's almost entirely controlled by the "crowd," no artificial acts, just pure passion.

Due to the Lightning Torch's limit of 4.29 million satoshis in transaction value, the amount of Bitcoin that can be sent instantly through the Lightning channel is limited. When this limit is reached, the activity will come to an end.

According to reports, the torch may ultimately end up at the same destination as the first edition, being sent to the Venezuelan charity organization Bitcoin Venezuela, which will use the donations to provide food, medicine, and essential supplies to the people of Venezuela.

Further Reading

• BitMex Report: Lightning Network Continues to Grow - Developers Note Most Transactions Are Experimental
• Author of "Principle": Bitcoin's Volatility Leads Gold to Become a Safe Haven Asset During Economic Downturns

Join now to receive the most comprehensive fintech information, blockchain insights, and industry examples!