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LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Sees Growth from Lightning Network Nodes; Company Executive Publishes Guest Post About Using Bitcoin to Increase Trust on the Internet

  • Since the summer of 2021, the number of users with access to the Lightning Network has increased from approximately 100,000 to over 80 million
  • LQwD’s current channel count on the Lightning Network is 17 and connects countries worldwide
  • LQwD currently has active nodes spanning the US, Japan, England, Canada, France, Italy, Indonesia, Bahrain, South Africa, South Korea, Sweden, Singapore, Hong Kong, Brazil, Germany, India, and Ireland
  • Company executive Stephen Thompson wrote an article for Bitcoin Magazine expressing that Bitcoin (as a network) could be the additional layer of trust needed with the internet infrastructure today

Over the last 30 days, the Bitcoin Lightning Network (“LN”) has experienced an increase in channel capacity, despite the current decline and bear market being experienced by much of the cryptocurrency world. The current capacity is teetering at the 4,000 BTC mark, translating into a growth of over 5% across the last 30 days (https://nnw.fm/k8l5e).

Arcane Research’s The State of Lightning Volume 2 was released in April 2022 and used transactional data from the platform to support its findings. With the adoption of the Lightning Network platform quickly rising, the research indicated that the number of payments over the past year has doubled, and the value of the transactions has increased by about 400%. Comparing last summer (2021) to March 2022, it was determined that the number of users with access to the Lightning Network has increased from approximately 100,000 to 80 million, respectively (https://nnw.fm/Ujb4M).

LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a fintech company focused on creating enterprise-grade infrastructure to drive bitcoin adoption, has been scaling its capacity on the network to drive awareness and growth. The company’s flagship platform as a service (“PaaS”) offering, https://lqwd.tech/, was released in November 2021 in addition to the first company node on the Lightning Network – US-West. 

As the company’s longest operating node, the US-West node’s capacity is the highest – 5.73377252 BTC, which translates to 573,377,252 satoshi/ US $121,051.86. Currently, 104 channels and 103 connected nodes are active on the network to the company’s Lightning Network node. Over the last 30 days, the US-West node has experienced growth overall, an increase of .250353 BTC (+4.57%) with an average channel capacity on the node of .055 BTC (US $1,162.01).

Including US-West, the current node count operated by LQwD on the Lightning Network is 17. These nodes facilitate transactions in destinations worldwide, including Japan, England, Canada, France, Italy, Indonesia, Bahrain, South Africa, South Korea, Sweden, Singapore, Hong Kong, Brazil, Germany, India, and Ireland. Using the Lightning Network instead of the blockchain for transactions brings multiple benefits to users, such as faster settlement times and lower fees. The company has invested its own bitcoin reserves in creating its pathways across the Lightning Network. To follow LQwD’s progress on the Network, visit www.1ml.com

Bitcoin Magazine recently published an opinion piece by Stephen Thompson, the senior technical editor at LQwD (https://nnw.fm/8QMWg). In the article, Stephen discusses how Bitcoin’s trustless nature adds trust to the internet. He explains the current seven-layer structure of the internet (physical, data link, network, transport, session, presentation, and application) and how Bitcoin could essentially be a new layer of added trust. The layer refers to Bitcoin the network (not bitcoin the asset) as a trust protocol that defines the rules governing the network and protecting it from attacks. In his guest post, Thompson underlines that a combination of better technology with people allowing it to play a prominent daily role will help to improve trust overall.

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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