LinkedIn Co-Founder Passes Bitcoin Lightning Torch as BTC Adoption Prospects Increase
Abhimanyu Krishnan's original article for www.investinblockchain.com reduced by 52%
The Lightning Network has been getting a lot of attention in the past few weeks, partly because of the recognizable boost in performance that it has been offering, and partly because of the fact that various notable figures in the industry have been passing on the "Lightning Torch." This time, LinkedIn's co-founder and executive chairman, Reid Hoffman, has borne the Lightning torch, taking it from Adam Back, CEO of Blockstream. Great to see Lightning accelerating Bitcoin use cases and adoption. The billionaire entrepreneur then passed the Lightning Torch to Fidelity Investments, a noted institutional investments firm.
The Lightning Network experiment is currently being passed between trusted entities, informally dubbed the "Trust Chain", because users are sending the payment to other users who they expect will pass the Bitcoin on rather than keep it themselves. As a second layer solution, the Lightning Network opens a payment channel between participants who only make transactions between each other. The Lightning Network has seen a very positive reception in the past few weeks because of the provable increase in performance, and there is a palpable belief that the scaling solution can bring greater adoption for Bitcoin.
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CN [too long; didn’t read]
Summarised crypto news.