Fidelity, LinkedIn Co-Founder Latest to Receive Bitcoin’s Lightning Torch

The lightning network, an ongoing experiment with bitcoin technology, continues to receive support from some major companies and individuals.

The digital assets team at financial mogul Fidelity Investments and LinkedIn co-founder Reid Hoffman are the latest to receive the “Lightning Torch,” a payment in a chain of transaction. Both have responded positively and participated in the effort within the last few days.

Fidelity Digital Assets said through a tweet: 

“We and our research team at the Fidelity Center for Applied Technology have received the #LNTorch from @Wiz. Who should we pass it to?”

The lightning network is an ongoing experiment, being developed as an extra layer to bitcoin, enabling users to send funds globally fast and without a third party, unlike mainstream payment options like Paypal and Mastercard.

The Lightning Torch represents the technology, with Twitter users receiving the “torch”—a lightning payment—and passing it around after adding a minimal amount of bitcoin. The experiment was started in mid-January by Twitter user Holdonaut and has since reached popular members of the crypto world and well-known personalities including Twitter CEO Jack Dorsey, who said at the time:

“Cool example of #BitcoinTwitter experimenting on the lightning network.” 

On the other hand, the experiment is also widely called as “LN Trust Chain,” since present holders are expected to send the payment on to another user they trust, instead of keeping it to themselves.

A site tracking the chain of transaction states that the torch has so far been held by 224 users and has been passed around to at least 137 countries. At press time, a total of 3,700,000 satoshis or $143 have been sent.

The tracker mentioned that early on, one recipient “stole” the amount of bitcoin, although someone returned it, seemingly not wanting to participate in the experiment.