What began as an experiment at the end of January wandered around the world as the “Lightning Torch”. However, after about 250 transactions, this torch grew so much that it exposes difficulties of Bitcoin’s Lightning Network. What’s next?
On March 14, the Lightning Network was one year old. There was a lot going on this year: the number of nodes increased to around 7,400 and the total capacity to over 1,000 BTC. But there was a slight shadow over this birthday. The Lightning Torch, a community project, is growing steadily and is becoming increasingly difficult to share.
The Lightning Torch was launched on 19 January by a Norwegian with the pseudonym Hodlonaut. The idea was that he would send a transaction with 100,000 satoshi (about four dollars) to somebody. This should pass on this transaction and in turn sent 10,000 Satoshi. With every transaction, the value of the torch grew. However, what everyone should pay for is something that many should be able to afford: 10,000 Satoshi do not even equal $ 0.40 according to the current Bitcoin price.
The LNTrustchain or Lightning Torch has been roaming around the world for almost two months. Illustrious characters such as Samson Mow of Blockstream, Riccardo Spagni of Monero or Justin Sun participated in this torch relay. People beyond the crypto-ecosystem also joined in the experiment: Twitter CEO Jack Dorsey and LinkedIn founder Reid Hoffman kept the torch alive. From Greenland to the Antarctic, from Hawaii to Brisbane, the Lightning transaction moved around the world. Even political borders, as between Iran and Israel, were not a problem for this experiment.
Venezuela was also a stage in this torch relay. With Criptodiana the Lightning Torch came to Caracas. She sent them on to Bitbros, who are also based in Venezuela. They had to continue operating the Lightning Node with batteries thanks to a nationwide power outage. To reaffirm this sign of engagement from another side, they want to hand the torch to someone from Tesla. Tesla does not just make electric cars, but is also one of the leading manufacturers of power storage.