The Torch program was initially started by unnamed Twitter user Hodlnaut. The Lightning Torch symbolizes the BTC that is passed from one hand to another after adding a small amount every time through the scalability solution, the Lightning Network (LN).
Bitcoin Venezuela is supposedly accountable for the humanitarian project named “Bitcoin for Venezuela,” under which meals were handed over to residents of the country during a power blackout.
The organization also seems to have joined hands with Locha Mesh Network development initiative, an organization aiming to create cost effective do-it-yourself, open source devices that have the ability to maintain a decentralized, autonomous and censorship-resistant network. The organization, funded by donations, allows its users to interact in a secure manner and remit Bitcoin without using internet facility.
The Poster who started the Lightning Torch relay has actually just got into a tussle with Craig Wright — the person behind the crypto Bitcoin Satoshi Vision (BSV). He is also popular for claiming to be Satoshi Nakamoto.
There have been news stories that Wright has proposed a bounty of $5,000 in BSV for information on Hodlnaut’s personal information after the latter purportedly posted a series of “extremely defamatory and abusive tweets.”
On April 11, the CEO of cryptocurrency exchange Binance, Changpeng Zhao, tweeted that, if Wright does not improve his behavior, Binance will suspend BSV from its platform. In February, LinkedIn co-founder and ex-PayPal exec Reid Hoffman received and passed on the Lightning Torch. Prior to him, Jack Dorsey, co-founder and CEO of Twitter, took part in passing the Torch.