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LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Lighting Network Nodes Continue Showing Positive Growth; Network Featured at bitcoin 2022 Convention

  • The bitcoin 2022 convention took featured over 450 speakers, with more than 3,000 companies represented during the event
  • LQwD currently has 10 active nodes on the Lightning Network – France, England, Sweden, Singapore, Italy, Indonesia, Germany, Ireland, India and the US
  • By 2030, the Lightning Network could see more than 700 million users leading to as many as 364 trillion transactions per year

Presented by Cash App, the biggest bitcoin event in the world (bitcoin 2022) took place April 6-9, 2022, in Miami, Florida. The four-day event included Industry Day (April 6), the Main Convention (April 7 & 8), and the first-ever Bitcoin music festival Sound Money Fest (April 9). Over 35,000 attendees took advantage of the insight provided by over 450 speakers at the convention, which was sponsored by over 400 investors with more than 3,000 companies represented. 

The packed agenda included Q&A sessions, strategy, and even a Lightning Network Report presented by Torbjørn Bull Jenssen, CEO of Nordic cryptocurrency powerhouse Arcane Crypto (https://nnw.fm/mEnOx).

Expanding at a fast rate, the Lightning Network has changed the way that transactions are handled across the blockchain. Many companies have leveraged technology that overlays the layer 2 payment protocol layered on top of a blockchain-based cryptocurrency like bitcoin or Litecoin. LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a financial technology company creating enterprise-grade infrastructure to drive bitcoin adoption, released a proprietary platform as a service (“PaaS”), https://lqwd.tech/, in November 2021, allowing users to send and receive payments quickly using the Lightning Network.

LQwD has invested its own bitcoin in the Lightning Network – with 10 active nodes spanning multiple geographic locations. Currently, LQwD has nodes operating in France, England, Sweden, Singapore, Italy, Indonesia, India, Germany, Ireland, and the United States.

Current LQwD Lightning Node statistics, as of April 25, 2022:

  • US-West
    • Capacity: 5.689273640 BTC (US $224,462.72)
    • Channel Count: 106
  • Ireland
    • Capacity: 0.380000330 BTC (US $14,992.41)
    • Channel Count: 8
  • Germany
    • Capacity: 1.360000160 BTC (US $53,657)
    • Channel Count: 25
  • Indonesia
    • Capacity: 1.835046080 BTC (US $72,399.3)
    • Channel Count: 35
  • Italy
    • Capacity: 0.250000250 BTC (US $9,863.43)
    • Channel Count: 5
  • Singapore
    • Capacity: 1.344596260 BTC (US $53,049.26)
    • Channel Count: 23
  • Sweden
    • Capacity: 0.350000440 BTC (US $13,808.8)
    • Channel Count: 7
  • England
    • Capacity: 0.470000150 BTC (US $18,543.23)
    • Channel Count: 11
  • France
    • Capacity: 2.130782200 BTC (US $84,067.18)
    • Channel Count: 40
  • India (launched April 19, 2022)
    • Capacity: 0.050000000 BTC (US $ 1,972.68)
    • Channel Count: 1

To follow LQwD’s presence on the Lightning Network, visit www.1ML.com.

When the new nodes were released, CEO Shone Anstey shared the company’s insight, underlying that the launch firmly positions LQwD to increase its overall value on the network. “Being a leading Lightning Network infrastructure and transaction facilitator has a lot of value: First, Lightning Network’s early-movers (like us) are best positioned to strategically expand our position on the network,” Anstey explained (https://nnw.fm/YVuA8). “Second, the more nodes LQwD establishes worldwide; the more transactions can be routed through our node network. And each transaction represents a routing fee.”

The Lightning Network has seen constant growth in the past year and is expected to continue this upward trend, along with the global cryptocurrency market. According to an October 2021 report by Arcane Research titled “State of Lightning,” the Lightning Network could see more than 700 million users by 2030, leading to as many as 364 trillion transactions per year. Meanwhile, the global cryptocurrency market is expected to reach US $4.94 billion by 2030, growing at a CAGR of 12.8% from US $1.49 billion in 2020. Growth drivers include the need for increased transparency in payment systems and the untapped potential within emerging economies (https://nnw.fm/MZFNq).

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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