BCH Version of BTC Lightning Network Torch Passing Commences, Many View SLP As Being Distinctive
A social experiment has been taking place among Bitcoin Cash [BCH] fans in recent times. As per the claims made, said experiment mocks the Lightning Torch pass, which requires crypto fanatics to share a fraction of their bitcoin [BTC]. Upon hearing of this, a BCH fan who goes by Cipher Gnome, has supposedly started a BCH version reports News.Bitcoin.com. To date they have been surfacing Reddit and Twitter.
Interestingly, the SLP (Simple Ledger Protocol) Torch has passed by several big names including the likes of CEO Roger Ver, developer Josh Ellithorpe, Don Wonton, Collin Enstad and others. When it reached Ver, he was unable to pass it to Paul Lambert because of “complications,” which has been reasoned as being due to Lambert’s attempt in using Lightning Network.
For those who are unaware, the Simple Ledger Protocol (SLP) is a protocol used to issue security tokens on the BCH blockchain, which was created to convert any asset to tokens that can be traded within seconds. Some of its features that have attracted consumers include its flexible issuance, permissionless platform, convenience and complete auditability by any party.
According to Twitter user, @im_uname (Imaginary_username), the BCH version is, “more exciting than torches.”
The argument made is that the SLP torch is, “nonfungible with only one in existence.”
Unfortunately, this doesn’t welcome LN supporters, resulting in the creation of a similar version for the latter.
Still confused on how the LN Torch differs from that of the BCH’s SLP Torch? Collin Enstad notes that a non-custodial Badger wallet was used in initiating the torch passing process. Additionally, the torch supposedly cannot be reproduced or divided, which makes it all the more interesting.
He also stated the following:
“There are no long invoices that can time out […] I didn’t have to run a node. I didn’t have to have an equal amount of the torch […].”