Twitter co-founder and CEO Jack Dorsey joined a community project on February 5 demonstrating the functionality of the Bitcoin (BTC) second-layer scaling protocol, the Lightning Network (LN).
Dorsey, who has repeatedly pledged his belief that Bitcoin will become the main currency of the Internet, is now participating in an experiment called the LN Trust Chain, a chain of transactions on the LN that took place on January 19 came into circulation.
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 (approximately $ 0.34), and shares it with another person he trusts.
The flashlight currently contains almost 3 million Satoshis (about $ 98.60).
Dorsey, who is also founder and CEO of the mobile operator Square, was nominated by the entrepreneur and regular Bitcoin commentator Matt Odell in a tweet on February 4 as a participant.
After Dorsey publicly posted his bill to Odell, currently the standard method of joining the trust chain, on Twitter, he received much praise from other well-known community sources.
The LN Trust Chain experiment emerged as a method to both raise awareness of the LN and test its robustness. Since its debut on the Bitcoin Mainnet a year ago, developers continue to focus on technical skills to ensure that the LN is ready for a possible future influx of users.
Last month, the LN exceeded a milestone capacity of $ 2 million and currently has a historically high capacity of 646 BTC (about $ 2.2 million).