Twitter CEO Jack Dorsey joins Bitcoin Lightning Network "Torch"
|- Bitcoin Lightning Network hit $2.2 million all-high as awareness increases.
- Jack Dorsey believes Bitcoin will be the de facto currency of the Internet.
The Bitcoin community is celebrating the chief executive officer of Twitter, Jack Dorsey showing his support for the network’s project, the Lightning Network (LN). The co-founder of the social media platform has already shown support for Bitcoin before and even reckoned that it has the ability to become the de facto currency of the internet.
Dorsey is currently taking part in a trial program referred to as LN Trust Chain that entails a connection of transactions executed using the Lighting Network. The trial program commenced on January 2019 but Dorsey joined in on February 5.
The trail was created based on the Olympic flame, the “Lightning Torch”. It supports a carefully executed series of transactions on Bitcoin’s second layer scaling protocol. All the people taking part are supposed to pass on the torch using the hashtag #LNtrustchain. It requires a user to receive a transaction and add about 10,000 satoshis to it before sending to another trusted person.
At the time of press, the torch has collected about 3 million satoshis, an equivalent of $98.60. The LN Trust Chain was organized to ensure that more people are aware of Bitcoin’s Lightning Network. The new protocol has hit a milestone of surpassing $2 million and an all-time high of $2.2 million.
At the moment, Bitcoin is trading at $3,362 after correcting lower 1.8% on the day. Recovery is still limited following the declines at the opening of the session today. Bitcoin is trading above the support at $3,360 with eyes locked on the now psychological $3,400.
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