The Praia Bitcoin experiment set a file with P2P transactions occurring each three seconds.
On February 18, 2023, a brand new world file for peer-to-peer (P2P) bitcoin transactions was established utilizing the Lightning Community. The Praia Bitcoin experiment, a Brazilian nonprofit social venture, was in a position to carry out 71 P2P bitcoin transactions in simply 3 minutes and 33 seconds, making it the most important variety of P2P bitcoin transactions by way of Lightning to happen within the shortest time potential.
Kits had been distributed to college students and residents of the village of Jericoacoara, containing a piggy financial institution, a t-shirt and a Bitcoin debit card (Bolt Card), and utilizing this, a fee was made each three seconds.
Youngsters had been in a position to make use of the cardboard by tapping it at 21 native retailers, in addition to shopping for fruits at college for 10 sats, roughly one cent in Brazilian forex. All of this was executed with no smartphone required. The initiative was organized by Fernando Motolese, Vinicius Kinczel, and Lucia Helena Buso and was supported by 2go Fintech, Bipa CEO Luiz Parreira, and Bitcoin Seashore. The achievement was audited by Lucas Ferreira of Lightning Labs, confirming that the funds traveled between the Bitcoin servers and had been accessible within the Lightning wallets of the contributors.
Fernando Motolese, founding father of Praia Bitcoin, defined why the file is necessary. “This file is proof of the ability of Bitcoin and that it is prepared for the plenty,” he mentioned. “We’re excited to see what the longer term holds for the Lightning Community, and we hope this achievement evokes different communities to undertake Bitcoin as a medium of change and who is aware of, perhaps even surpass our file.”
The Praia Bitcoin crew plans to attempt a brand new try to interrupt their very own file later this 12 months, however this time with the Guinness E book of World Information crew in attendance, with a view to make it an official file.
