Changpeng “CZ” Zhao, the CEO of Binance, the largest crypto exchange in the world, has tweeted yesterday, February 10, that he advocated for Elon Musk, the founder of Tesla, to be the next participant of a Lightning Network initiative named the Bitcoin Lightning Torch.
The project, which had begun as a way publicity stunt in order to bring awareness to he Lightning Network, has seen massive adoption so far and the CEO and founder of Twiter, Jack Dorsey, was one of the latest celebrities to join the project. Dorsey himself appointed the founder of Tesla as a potential follow-on for the project, but it looks like Elon Musk has decided to remain silent ever since.
Who Will Get The Bitcoin Lightning Torch?
The Bitcoin Lightning Torch, which is somewhat like the Olympics Torch, just digital and based on the Lightning network, is currently being held by Changpeng Zhao. He has talked about it on Twitter and made several tweets to commemorate the occasion.
After inviting Elon Musk to light the torch, he was called by Charlie Lee, the founder of the Litecoin Foundation, but he has turned him down by saying that “he will get it soon enough” and that he wanted to “harass brother Elon Musk a bit more” before parting with the digital torch.
The Bitcoin Lightning Torch Is A Very Successful Marketing Campaign
In fact, this has been a very successful marketing campaign for the Lightning Network, an off-chain Bitcoin solution that was created in order to make payments faster.
This initiative has only existed for about three weeks so far and several high-profile people have already been a part of it. The idea is that Bitcoin transactions are being made by the users and passed on the next, just like an Olympic Torch.
In part, this marketing display is being made to raise awareness but also to commemorate that more and more people are interested in using this off-chain solution now.
At the moment, according to 1ML.com, which monitors blockchains, there are 6124 nodes on the Lightning network and over 24 thousand open channels, which have a capacity for 655 BTC (around $2.35 million USD).