Lightning Node elections and Network upgrade instructions

Lightning Bitcoin was launched to solve Bitcoin’s mining centralization and network congestion issues. We believe in DPoS as the new generation of consensus mechanism and are deeply concerned about the underlying technology of Bitcoin for large-scale commercial uses. We firmly believe that Blockchain technology will transform our society and make it better.

Since Lightning Bitcoin mainnet launched in February this year, the network has been able to run thousands of TPS. Now, we want to hold the Lightning Bitcoin Node Election to expand our community influence further and invite strong industry peers to build LBTC ecosystem together.
After the press conference, together with the candidates mentioned in our forum, we have received many other supporters who express strong interests in participating in the election. However, after careful consideration, we would like to invite these parties to build the community first, not limited to bookkeeping nodes.

These are the Nodes we chose to support:

· Digifinex, the first exchange that supports LBTC
· Cobo wallet, the largest supporter in our network stability
· Bitpie, one of the most famous wallets in industry
· BTCC, one of the longest-running pools in the world
· Bying, the first wallet to support LBTC
· Hyperpay, joined the community late but has great potential
· Dmitrii, our strongest supporter from the Russian community
· Node Capital, the first fund to support LBTC
· Tang from BitOcean to support our Japanese community

For those mentioned above, we sincerely thank them all for their countless support. Considering the contributions that they have made to the LBTC ecosystem, the LBTC team would like to vote for them if they intend to apply for our lightning nodes. Each delegate will get 101,512 votes from the following addresses:
15EqvHDtJ3P7ssepAdoitjc4u1bwt6vQ4H
12irXxWGUpPuGoKrK8dTfzmyQ7sw5YicpA

The whole voting process will be publicly announced and subject to your supervision. We sincerely hope that the whole community will support the candidates mentioned above. However, whether they can become lightning nodes or not, the results will need to abide by the rules embedded in the LBTC DPoS consensus mechanism.

Network Upgrade

According to the plan, we will upgrade the mainnet this week. Holding 5000 LBTC will be one of the necessary conditions for becoming a lightning node.
Currently, the code for the locked position has been developed and uploaded on the official LBTC GitHub account. Community members are welcome to review them.
Considering the additional upcoming code upgrading and reduce the workload for our full node wallet users and listed exchanges, LBTC full node wallet upgrading will be postponed.
By requiring minimum 5000 LBTC holding for lightning node candidates, it will create a shared interest between the lightning nodes and the LBTC ecosystem,
In the future, based on full consideration of community opinions and LBTC’s market performance, we can’t rule out the possibility that the lightning node requirements will be improved to make the ecosystem prosper.


Feel free to contact us via support@lightningbitcoin.io

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