Lightning Bitcoin
Crypto Overview
Project Overview
Lightning Bitcoin (LBTC) was launched in December 2017 as a Bitcoin fork that aimed to improve upon Bitcoin's scalability and transaction speed limitations. The project intended to implement features like faster block times (3 seconds), smart contract capabilities, and a more energy-efficient consensus mechanism.
Stated Purpose and Utility
The primary stated purposes of LBTC were to serve as: 1) A faster medium of exchange compared to Bitcoin, 2) A platform for smart contracts, and 3) A more environmentally friendly alternative to Bitcoin's proof-of-work system.
Current Status and Development
Research indicates that the project has shown minimal development activity since 2019. The official website is no longer accessible, and there is very limited recent information available about the project's current status or development efforts.
Token Distribution and Adoption
The initial distribution was through a fork of Bitcoin, with LBTC tokens being distributed to Bitcoin holders at the time of the fork. Current trading volumes are extremely low, and there is no evidence of significant adoption for its intended use cases.
Revenue Model and Operations
The project does not appear to involve any inherently haram activities like interest-based lending or gambling. The basic operation of transferring and trading tokens remains permissible from an Islamic perspective.
Crypto Impact
To assign a comfort level investing in Lightning Bitcoin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Lightning Bitcoin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.