LBTC monthly report （May 2021）

Technical Progress

The Lightning Bitcoin team updates and audits the system code, and iterates on key modules such as the official website, the block browser, the mobile wallet interface, and the wallet server.

Lightning Bitcoin supports Bitcoin Taproot upgrade

Taproot is a soft fork to enhance the functionality of Bitcoin scripts. Taproot is designed to enhance the privacy of Bitcoin scripts by not requiring the user to display any information contained in the scripts. Taproot, which shows only the conditions that are activated when a transaction is created, is one of the most important upgrades in Bitcoin’s history. Satoshi Nakamoto was the first to use ECDSA (Elliptic Curve Encryption Algorithm) when he created Bitcoin. The Taproot upgrade applies Schnorr signature algorithm, which is more efficient than ECDSA, and enhances the robustness of the Bitcoin network.

Product Improvement

The new Android version of LBTC with Defi and cross-chain support has been developed by the Singapore team and is in intensive testing; Meanwhile, the iOS Wallet is being developed by team members. Android cross-chain wallets are expected to be available in the near future.

Community News

LBTC Angel project

On April 26th, the LBTC team launched the LBTC Angel Project. The LBTC Angel Project is a community activity aimed at expanding the influence and adoption scale of the LBTC community. Initiated by the LBTC development group, we hope that every member of the LBTC community can actively participate in the faster realization of the vision of IoV for LBTC transnational applications. At present, the LBTC Angel Project is still in progress, especially in the Russian-speaking community, which has received a strong response. In total, the event attracted more than 1600 crypto community members from Russia and Eastern European countries.

The LBTC supports greener cryptocurrencies

Recently, Tesla announced that it would stop accepting bitcoin for payment due to concerns about the environmental damage caused by excessive carbon emissions from bitcoin mining, which has been widely discussed. Lightning Bitcoin, a decentralized DPOS blockchain, consumes almost no energy. As the original green cryptocurrency, it is more suitable for the development of the carbon-neutral era.

Team news

There are about 7 core members in the LBTC development team, who are responsible for the development of basic chain, architecture design, smart contract development and cross-chain gateway development. At the same time, LBTC community members are also being recruited. We are looking for outstanding marketing personnel who share the prospects and causes of cryptocurrency development.

On-Chain Data

On-chain addresses 77696

Average weekly growth address 20+

On-chain transfer days average 25885

Block height 25650329

Total 7,465,926

Circulation 5017499.53125

Social media data

Weibo 20828

Wechat 3772

Twitter 4687

Telegram 5700