Bitcoin (BTC)Crypto News

Unofficial world record for the highest number of P2P Bitcoin blitz transactions paid in 3 minutes

Unofficial world record for the highest number of P2P Bitcoin blitz transactions paid in 3 minutes, Crypto Trading News

The PraiaBitcoin-Experiment set a record of P2P transactions happening every three seconds.

On February 18, 2023, the Lightning Network set a new world record for peer-to-peer (P2P) Bitcoin transactions. The Praia Bitcoin Experiment, a Brazilian non-profit social project, was able to complete 71 P2P Bitcoin transactions in just 3 minutes and 33 seconds, which is the largest number of P2P Bitcoin transactions via Lightning in the shortest amount of time.

Kits containing a piggy bank, a t-shirt and a bitcoin debit card (bolt card) were distributed to students and residents of the village of Jericoacoara and used to make a payment every three seconds.

Children could use the card by knocking at 21 local vendors and buy fruit at school for 10 sats, about one cent in Brazilian currency. All of this happened without the need for a smartphone. The initiative was organized by Fernando Motolese, Vinicius Kinczel and Lucia Helena Buso and supported by 2go Fintech, Bipa CEO Luiz Parreira and Bitcoin Beach. The success was verified by Lucas Ferreira of Lightning Labs, confirming that the funds traveled between Bitcoin servers and were available in participants’ Lightning wallets.

Fernando Motolese, founder of Praia Bitcoin, explained why the record matters. “This record is a testament to the power of Bitcoin and that it is ready for the masses,” he said. “We’re excited to see what the future holds for the Lightning Network, and we hope this achievement inspires other communities to adopt Bitcoin as a medium of exchange and, who knows, maybe even surpass our record.”

The Praia Bitcoin team plans to make another attempt later this year to break their own record, but this time with the presence of the Guinness World Records team to make it an official record.

Source: Crypto News Deutsch

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button