co-founder and CEO has a community project demonstrating the functionality of ’s () second-layer scaling protocol, the Lightning Network (), on Feb. 5.
Dorsey, who has pledged his faith in becoming the de facto currency of the internet, is now participating in an experiment dubbed , a chain of transactions on the LN that began circulating Jan. 19.
Based on the concept of the Olympic flame, the “Lightning Torch” is a series of transactions between users of the Lightning Network, with participants communicating on Twitter with the hashtag #LNtrustchain. Each user receives the transaction, adds a nominal amount of 10,000 satoshis (about $0.34) and passes it to someone else they trust.
The torch currently contains just under 3 million satoshis (about $98.60).
Dorsey — who is also the founder and CEO of mobile payments company Square — was as a participat by entrepreneur and regular commentator Matt Odell in a tweet Feb. 4.
Having posted his invoice to Odell — currently the standard method of participating in the Trust Chain — publicly on Twitter, Dorsey received considerable praise from other well-known community sources.
“This will become one of the most historic tweets by @jack [Jack Dorsey],” a proponent known on Twitter as Armin Van , adding:
“And so, we begin the era of #BitcoinTwitter #BT[.]”
The LN Trust Chain experiment came about as a method of both spreading awareness of the LN and testing its robustness. Since its debut on the mainnet a year ago, developers continue to focus on technical prowess, ensuring the LN is ready for a potential future influx of users.
Last month, the LN a milestone capacity of $2 million and has an all-time high capacity of 646 (about $2.2 million).
In a separate tweet Feb. 5, Dorsey that the only he holds currently is .
In a recent interview, Dorsey that he believes will be the internet’s native currency, a claim he has made .
Published at Wed, 06 Feb 2019 08:16:37 +0000
