Litecoin creator and Managing Director of the Litecoin Foundation, Charlie Lee became the latest figure in the cryptosphere to hold the Lightning torch. Litecoin.com announced the development on its official Twitter handle.
According to the post by Litecoin.com, the chain had accumulated 4200k Satoshis and the torch had been passed to Bill Barhydt, the CEO of Abra. Lightning Network [LN], Bitcoin’s [BTC] second-layer scaling protocol gained significant traction following the Lightning Torch experiment.
Each new link in the experiment has added 10k satoshis to show the value that can be transferred off-chain, cited the blog post. The experiment saw the participation of several famous people in the cryptosphere in the two months since its inception. Twitter’s Jack Dorsey, Lightning Labs’ Elizabeth Stark, Monero’s Ricardo Spagni, Binance’s Changpeng Zhao, Bitcoin pioneer Eric Voorh, and Anthony Pompliano, among others, had previously held the torch.