Twitter co-founder and CEO Jack Dorsey has joined a community project demonstrating the functionality of Bitcoin's second layer scheduling protocol (BTC), Lightning Network (LN), on February 5.
Dorsey, who has repeatedly promised that her faith in Bitcoin would become the de facto currency of the internet, now participates in an experiment called the LN Trust Chain, a chain of transactions in the LN that began circulating on January 19.
Based on the concept of the Olympic flame, "Lightning Torch" is a series of transactions between Lightning Network users, with participants communicating on Twitter with the #LNtrustchain hashtag. Each user receives the transaction, adds a nominal amount of 10,000 satoshis (about $ 0.34), and passes to another person they trust.
Currently, the torch contains just under 3 million satoshis (about $ 98.60).
Dorsey – who is also the founder and CEO of Mobile Square Payment Company – was named as a participant of the entrepreneur and regular Bitcoin commentator Matt Odell in a tweet on February 4.
Having published her invoice for Odell – currently the standard method of participation in the Chain of Confidence – publicly on Twitter, Dorsey received considerable praise from other known community sources.
"This will become one of the most historic @jack tweets [Jack Dorsey]", A Bitcoin proponent known on Twitter as Armin Van Bitcoin answeredadding:
"And so, we started the era of #BitcoinTwitter #BT[.]"
The LN Chain of Trust experiment emerged as a method of spreading LN awareness and testing its robustness. Since its debut in the Bitcoin network a year ago, developers have continued to focus on technical prowess, ensuring that LN is ready for a possible future influx of users.
Last month, LN surpassed a capacity of $ 2 million and currently has a high capacity of 646 BTC (about $ 2.2 million).
In a separate tweet of February 5, Dorsey revealed that the only criptomoeda he currently holds is Bitcoin.
In a recent interview, Dorsey said he believed Bitcoin would be the Internet's native currency, a claim he made earlier.