- LQwD currently has three public nodes on the Lightning Network – US-West, Singapore, and Frankfurt
- LQwD’s first launched node, US-West has already experienced positive growth
- The company plans to release more international nodes in the future, facilitating its goal of being a prominent payment processor worldwide
LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a fintech company focused on creating enterprise-grade infrastructure to drive bitcoin adoption and the development of payment platform-as-a-service (“PaaS”) for the Bitcoin Lightning Network, has announced that it has deployed additional routing nodes in Germany and Singapore. The establishment of these nodes into these international financial hubs translates to providing a gateway to processing payments in the European and Asian markets – faster and with fewer fees (https://nnw.fm/5C14D). These nodes represent the first of many international nodes that LQwD plans to deploy, secured by company-owned Bitcoin.
Watch LQwD CEO & CTO Explain Lightning Network Node Strategy
The Lightning Network is a layer-two technology that solves the problem of mass scaling Bitcoin for microtransactions across the globe. The network enables millions of transactions per second, reducing the fees and time required to process them. The Lightning Network has experienced newsworthy growth recently, including (https://nnw.fm/fywRB):
- Bitcoin capacity increased from 1,060 BTC to 3,444 BTC, representing a growth of over 220% from January 2021 to the present,
- Payment channels are up over 126% since January 31, 2021, growing from 38,000 to presently 87,211 channels, and
- Since April 2021, node growth on the network has increased more than 227%, from 10,394 to 34,453 nodes presently established.
LQwD has three public nodes currently available on the Lightning Network – US-West, Singapore, and Frankfurt. The company launched its first node, US-West, in November 2021 and has experienced positive week-over-week growth, which is expected to occur with the international nodes, as well.
LQwD-US-West: Over the last 30 days, US-West has seen a growth of 259.62% (3.594250 BTC/USD$160,342.53), 95.65% increase in channels (44), and an average channel capacity of 0.055 BTC (US$2,467.80).
- Capacity – 4.97865144 BTC
- Value – USD$221,873.15
- Channels – 90
- Connected Nodes – 88
By deploying these and other international nodes, LQwD is positioning itself to participate in the global adoption of the Lightning Network, which is gaining momentum. The company believes that nodes in Germany and Singapore will show capability and proof of concept, which paves the way for LQwD to become a prominent liquidity and payment processor globally.
The Bitcoin payment ecosystem market is expanding steadily, being expected to reach a value of US$880 million by 2026, growing at a CAGR of 20.13% (https://nnw.fm/uEEYG). The market comprises miners, traders, merchants, hoarders, and consumers. Still, it is directly affected by the market exchange rate, non-compliance, and the flexibility to utilize Bitcoin for payment in commercial and e-commerce settings. The legal adoption of Bitcoin as a tender is also expected to drive significant growth for the market. Countries like El Salvador have already begun transitioning to a crypto-economy.
For more information, visit the company’s website at www.LQwDFinTech.com.
NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://nnw.fm/LQWDF
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