The Lightning Torch payment movement still continues, when will it break?

30 Jan, 2019 | Updated: 30 Jan, 2019
by Fifi Arisandi
The Lightning Torch payment movement still continues, when will it break?

The Lightning Torch movement started 10 days ago hasn't stopped, people are still passing forward utilizing the Lightning Network.

The “Lightning Torch” movement was initially started as “fun” by a Twitter user, @hodlonaut on January 20 this year.

As of writing time, the torch is said to have gathered a total amount of 2.3 million satoshis, which is worth of $78.30.

While the number seems insignificant, the torch can be considered as a small-scale effort to test the strength of the Lightning network for low-level payments.

According to Bitcoinist, a year after it was introduced on Bitcoin mainnet, the Lightning technology is more familiar for use by tech-literate people, with no guarantee of success, despite its boasted advances.

In recent months, however, the technology is said to have improved significantly.

As Chepicap reported just a couple of days ago, Zap’s CEO, Jack Mallers demonstrated the power of Lightning Network by allowing anyone in the world to buy him a beer through the internet, which happened during a local group meetup in Chicago.

Read more: Buying beer with Bitcoin, courtesy of the Lightning Network

In addition, the Lightning Network itself is reported to have shown a notable growth, with 5741 nodes, 22,334 channels and a total capacity of 579 BTC ($1.96 million) as of writing time, which is far above how it was at the beginning of the month with 532.90 BTC of capacity.

Read more: The Lightning Network just reached a new record capacity at 510 BTC

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Read more about:Bitcoin (BTC)

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09 Apr, 2019 - 00:55

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