June 16, 2024

Lightning Torch protocol tested on Stellar blockchain

Lightning Torch protocol tested on Stellar blockchain

Coindesk reports that since June 26, 2019, the Stellar cryptocurrency blockchain has been testingLightning Torch protocol ("Burningtorch") designed to execute low-fee transactions on the Bitcoin (BTC) network.

Blockchain Lightning Torch Test ProjectStellar is led by Wouter Arkink, who works for Asito, a Dutch company. Arkink drew on a protocol study of several members of the crypto community during the Stellar Meridian conference, which was held in Mexico City in November this year. Then the idea was supported by the director of the Stellar Development Foundation Lisa Nestor.

Test participants use the appKeybase for transferring digital assets to other users. At the same time, money can be sent even to people who are not registered in Keybase. To do this, the sender must send Stellar Torch (the so-called transaction using the Lightning Torch protocol) to the recipient (for example, a Twitter user). After the recipient confirms the transaction, Keybase will automatically create a wallet in which the sent coins will be stored. Twitter user has the right to access cryptocurrency for a commission of 2 XLM (7.3 rubles).

The Stellar Torch program has no end goal, andit is essentially a social experiment designed to increase people's interest in cryptocurrencies. Project managers conduct various challenges. For example, the user must be the first person to send Torch to a resident of a certain country or celebrity. Some testers record videos to immortalize the moment of passing the “Torch”. During the entire duration of the project, not a single recipient of the payment took the money. Instead, people continue to pass on Torch, which has already covered almost 500,000 kilometers.