- LQwD is leveraging the Lightning Network through its 17 international nodes, with the goal of having 24 nodes by the end of the current quarter
- Active LQwD nodes include Canada, France, Japan, England, Italy, Indonesia, Bahrain, South Africa, South Korea, Sweden, Singapore, Hong Kong, Brazil, Germany, India, Ireland, and US-West
- LQwD released its PaaS offering in November 2021, providing easy node and channel management on the Lightning Network and LSPs for merchants
- The blockchain market is expected to grow at a CAGR of 68.4%, resulting in a projected value of US $67.4 billion by 2026
Despite the volatility of the cryptocurrency market, namely Bitcoin prices falling approximately 38% in June to end the month at less than US $20,000 (https://nnw.fm/a0trC), the Lightning Network sees new all-time highs, boosting scaling capabilities of Bitcoin. The Lightning Network is a layer-2 scaling solution that makes Bitcoin transactions faster and lowers subsequent fees for sending and receiving across the network. The daily average capacity reported has crossed 4,167 BTC, up from the end of June, where reports showed a capacity of 3,962 BTC (https://nnw.fm/0gfiC).
LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a financial technology company focused on creating enterprise-grade infrastructure to drive bitcoin adoption, is scaling solutions through the Lightning Network. The company currently has 17 international nodes active on the Lightning Network, including Canada, France, Japan, England, Italy, Indonesia, Bahrain, South Africa, South Korea, Sweden, Singapore, Hong Kong, Brazil, Germany, India, Ireland, and US-West. To follow LQwD’s nodes on the Lightning Network, visit: https://lqwdfintech.com/lightning-netowrk-stats/ .
The company released its first node (US-West) in November 2021, alongside its platform as a service (“PaaS”) offering, https://lqwd.tech/. The current capacity of US-West is 6.06271656 BTC (606,271,656 sat/ US $118,154.83); it has over 100 active channels and connected nodes currently operational. Over the last 30 days, US-West has experienced an increase of 0.277324 BTC (+4.79%), an increase of six channels (+5.71%), and a median fee rate of 0.000003 sat. LQwD’s nodes currently operate across 17 countries, but the company’s goal is to expand to 24 by the end of the current quarter.
LQwD’s PaaS allows users to manage Lightning Network node hosting and channel management. It is also a liquidity service provider (“LSP”) for merchants, utilizing globally distributed routing nodes through an easy-to-use API. The interface makes it easier for users to send and receive BTC across the Lightning Network, faster and at lower fees than traditional blockchain transactions. The company hopes to achieve accretive growth by targeting up-and-coming Lighting Network projects and LSPs.
With different payment facilitators expanding to include blockchain technology, the Lightning Network solves the scalability issues with BTC. Only allowing seven transactions per second (“TPS”), the Bitcoin blockchain (outside of the Lightning Network) requires high fees and slow transaction settlement times. Compared to PayPal (193 TPS) and Visa (24,000 TPS), the Lightning Network exceeds expectations with over one million TPS.
The blockchain market size was valued at US $4.9 billion in 2021. It is projected to reach US $67.4 billion by 2026, growing at a CAGR of 68.4% during the forecast period. The primary driving factors for this market include increased interest in venture capital funding, investment in blockchain technology, use of blockchain by banking and cybersecurity industries, and the high adoption of blockchain solutions for payment, smart contracts, and digital identities. Another major contributor to the growth of blockchain (as a whole) is the increased interest of government entities. LQwD is positioned to leverage this market through the use of its international nodes, PaaS offering, and presence in the Bitcoin industry.
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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