28 2月

Lightning Network transmitted trustness, Justin Sun donated 250,000 USD

This event was originally famous abroad, that is, 100,000 Satoshi were transmitted through the lightning network. But with the torch of trust passed to the Binance founder Zhao Changpeng and the founder of Tron Justin Sun. The lightning network trust torch relay activities in China got popular.

13rd Feb., Justin Sun received the torch of trust to Erik, CEO of shapeshift. Also Sun started another torch activity that he donoated 250,000 USD to ALS, Renée Zellweger, Courteney Cox also attended the event.

So, what is lightning torch activity and why is it popular?

 Let’s first understand what a lightning network is. According to Wikipedia, Lightning Network is a second-tier payment protocol that works on the blockchain (mainly for Bitcoin). It is designed to enable instant transactions between both parties, while trading frequency is limited by its capacity on blockchain.

To put it simply, the Lightning Network is a solution that the Bitcoin development team felt when Bitcoin’s transaction fees were too expensive. It would enable Bitcoin’s instant transactions without having to wait too long on the congested main network. The team waited for the miners to pack, and the Lightning Network will provide a smoother channel for these transactions, allowing these transactions to be paid for zero transaction fees. And the transaction speed is no less than the fast payment of WeChat and Alipay.

Hodlonaut” on Twitter

The lightning network is so powerful that it draws the attention of a full-time Bitcoin enthusiast named “Hodlonaut” on Twitter. Hodlonaut has been thinking about the philosophy of Bitcoin, and the lightning network has made Hodlonaut impressed.

On January 19, 2019, Hodlonaut launched the “Lightning Torch” relay on Twitter. He sent 100,000 Satoshi Bitcoin to a random responder in his post through the Lightning Network, and hoped that this person would continue to pass on” The Lightning Torch.

The rule of delivery is that each new torchbearer will receive the sum of the Satoshi (the sum of the Satoshi sent by all the torchbearers who passed the torch) received by the last torchbearer. The new torchbearer needs to add 10,000 new Satoshi (equivalent to RMB 2) can be passed to the next torchbearer.

As of now, according to incomplete statistics, “Lightning Torch” has been delivered to more than 39 countries, 188 times. Participants include Twitter CEO Jack Dorsey, the world’s first Bitcoin project investor Roger Ver.”Master Bits” Andreas Antonopoulos, author of Lightning Labs, Joost Jager, and so on. Someone in the middle kept the bitcoin because of greed, but fortunately someone took out the equivalent amount of bitcoin and continued the activity.

Lightning Torch

In just one month, the “Lightning Torch” has been successfully transmitted to China, and the influence of Lightning Network Trust Torch Relay is self-evident.

Bitcoin was born in 2009. Now ten years later, the underlying technology blockchain of Bitcoin has been paid more and more attention. The decentralized payment characteristics of Bitcoin have also begun to be concerned by various countries. This lightning network trust torch The transfer event has once again made the world’s people see the hope of decentralized technology. More importantly, if there is no support between people, this activity will not be carried out today.

The development of technology can reflect the progress of mankind. When people can respect and face new technologies on their own, there will be more possibilities in this world. The lightning network trusts the torch relay activity, and it is wonderful to discover another world inadvertently.

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