The Praia Bitcoin experiment set a document with P2P transactions occurring each three seconds.
On February 18, 2023, a brand new world document for peer-to-peer (P2P) bitcoin transactions was established utilizing the Lightning Community. The Praia Bitcoin experiment, a Brazilian nonprofit social mission, was in a position to carry out 71 P2P bitcoin transactions in simply 3 minutes and 33 seconds, making it the biggest variety of P2P bitcoin transactions through Lightning to happen within the shortest time attainable.
Kits have 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.
Kids have 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 foreign money. All of this was performed 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 have been obtainable within the Lightning wallets of the individuals.
Fernando Motolese, founding father of Praia Bitcoin, defined why the document is essential. “This document is proof of the ability of Bitcoin and that it is prepared for the lots,” he mentioned. “We’re excited to see what the longer term holds for the Lightning Community, and we hope this achievement conjures up different communities to undertake Bitcoin as a medium of trade and who is aware of, perhaps even surpass our document.”
The Praia Bitcoin crew plans to strive a brand new try to interrupt their very own document later this 12 months, however this time with the Guinness Ebook of World Information crew in attendance, in an effort to make it an official document.