The Lightning Network has lit a flame within the crypto community and now its fire has reached Iran with their Lightning Torch transaction relay using Bitcoin crossing the border this week.
The Lightning Torch event, which involves Bitcoin users passing around a transaction on the Lightning Network, adding funds and sending it forward, has been talked about greatly since its launch in January this year.
Twitter user, hodlonaut, conjured up the idea and now over 230 people have held the flame at one point, crossing borders. \
The move to Iran was not without controversy as the previous user had refused to send the money to the nation. Peach Inc. senior software engineer Vijay Boyapati had sighted political reasons for his reluctance to send the money to Iranian, Coinex executive Ziya Sadr.
Boyapati said this on the issue: “Very sad that two peaceful people cannot transact with each other across the world because of the state,”
The issue was resolved by a British user and the money was eventually given to Ziya. According to the project’s monitoring website, UK-based Bitgeiniog facilitated the move after receiving the payment from Bitcoin industry media resource Bitcoin Magazine. Since then Ziya has moved the torch on to another user in Iran and now according to reports, the Torch has now traveled to Israel in another move that is politically charged.
Iran has been at the center of Huawei and Canada scandal, with the companys chief financial officer, Meng
After a momentary blip, the good news has continued for the Lightning network. Statistics from monitoring resourcd 1ML.com confirm that overall capacity increased almost 20 percent in february, while the number of nodes and channels went up 19 and 39 percent respectively. The network was also used to power the first meme into space.
- Mithril1 week ago
Cryptocurrency: The Consumer Revolution. Use Mithril (MITH) to Get Tickets for Ed Sheeran Concert in Taiwan
- Mining5 days ago
Grin – The Rising Star of Mining in 2019?
- Bitmain1 week ago
Canaan Creative- the Emerging Rival to Bitmain?
- Altcoin News1 week ago
Binance: The First Decentralized Crypto Company?
- Altcoin News1 week ago
Poloniex Exchange Lists Grin On Website With Withdrawals
- China6 days ago
Chinese Miners Reveal Their Issues During Bear Market
- China1 week ago
OneCoin: Remembering the Scam That Hit China Hardest
- Altcoin News6 days ago
How Litecoin Became The Token of 2019