LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Establishes Lightning Network Routing Nodes, Deploys Bitcoin in Payment Channels
- These steps mark the first stage of LQwD’s Lightning Network platform becoming fully operational, furthering their goal of allowing users to make instant, secure, and inexpensive payments anywhere in the world using Bitcoin
- LQwD stakes Bitcoin on routing nodes to ensure network functionality where fees can be earned for forwarding transactions
- Since January 1, 2021, the Lightning Network has seen a 77% increase in nodes, 103.8% increase in channels, and 182.4% increase in capacity
LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a financial technology company focused on creating enterprise-grade infrastructure to drive bitcoin adoption, recently announced that it established routing nodes (networked computers) and deployed Bitcoin into payment channels on the company’s Lightning Network platform. This milestone was the first stage of the Lightning Network platform becoming fully operational, as it provided infrastructure, solutions, and liquidity to support the network’s development and fee earning potential (https://nnw.fm/dmGAN).
LQwD’s Lightning Network is a layer-2 payment protocol built on top of the Bitcoin blockchain. It is composed of nodes running the proprietary software. These are then connected to other nodes through payment channels that allow the payment to find the recipient. For payments to go through, enough Bitcoin must exist in the payment channel. As a Lightning Network Services Provider (“LSP”), LQwD stakes Bitcoin on routing nodes to ensure the functionality of the network where fees can be earned for forwarding the payments.
The Lightning Network has shown demonstratable growth since January 1, 2021. From January to October, nodes have increased 77%; channels have seen an increase of 103.8%, while network capacity increased 182.4%. The current network capacity as of September 28, 2021, is $124,305,308 (https://nnw.fm/0NwJo).
LQwD is working on a three-pronged strategy that includes the following:
- Offering PaaS (Platform as a Service) for Lightning Network Nodes and Payments Channels
- Becoming the LSP providing routing and liquidity services
- Accumulating Bitcoin as a treasury reserve asset, and for staking and liquidity
The goal is to build a strong brand and claim a place in the highly sought-after digital payment industry.
When it becomes fully operational, the Lightning Network platform-as-a-service will help LQwD secure a leading role in this industry by enabling users to leverage the network’s infrastructure for instant, secure, and inexpensive payments anywhere in the world using Bitcoin.
The platform’s development and growth come as the entire cryptocurrency market is continuing an upward trend. The growth is being fueled by transparency in the financial sector and the use of distributed ledger technology. Venture capital investments are also a crucial driving factor for the growth of the cryptocurrency market (https://nnw.fm/VTvvc).
Many U.S. banks and other payment platforms are creating blockchain-based systems to allow for B2B and P2P cryptocurrency payments between users. Last year, PayPal announced its intention of allowing customers to buy, sell, and hold Bitcoin and other cryptocurrencies in their PayPal accounts. One limiting factor in determining the market’s potential is the lack of regulatory status. Despite this, the sector will continue to expand as there is growing acceptance of cryptocurrency payments in the U.S.
LQwD’s plan for Q4 2021 is to secure market share and growth through payment channel revenue and transaction fees. The company also expects significant revenue to occur from potential, future strategic acquisitions. The use of the Lightning Network helps to increase the number of Bitcoin transactions per second (“TPS”) which currently averages as 7 TPS. Lightning Network allows Bitcoin transactions to be increased to millions per second allowing Bitcoin to be more scalable and usable as a global currency.
For more information on LQwD and the Lightning Network, visit the company’s website at https://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
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- These steps mark the first stage of LQwD’s Lightning Network platform becoming fully operational, furthering their goal of allowing users to make instant, secure, and inexpensive payments anywhere in the world using Bitcoin
- LQwD stakes Bitcoin on routing nodes to ensure network functionality where fees can be earned for forwarding transactions
- Since January 1, 2021, the Lightning Network has seen a 77% increase in nodes, 103.8% increase in channels, and 182.4% increase in capacity
LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a financial technology company focused on creating enterprise-grade infrastructure to drive bitcoin adoption, recently announced that it established routing nodes (networked computers) and deployed Bitcoin into payment channels on the company’s Lightning Network platform. This milestone was the first stage of the Lightning Network platform becoming fully operational, as it provided infrastructure, solutions, and liquidity to support the network’s development and fee earning potential (https://nnw.fm/dmGAN).
LQwD’s Lightning Network is a layer-2 payment protocol built on top of the Bitcoin blockchain. It is composed of nodes running the proprietary software. These are then connected to other nodes through payment channels that allow the payment to find the recipient. For payments to go through, enough Bitcoin must exist in the payment channel. As a Lightning Network Services Provider (“LSP”), LQwD stakes Bitcoin on routing nodes to ensure the functionality of the network where fees can be earned for forwarding the payments.
The Lightning Network has shown demonstratable growth since January 1, 2021. From January to October, nodes have increased 77%; channels have seen an increase of 103.8%, while network capacity increased 182.4%. The current network capacity as of September 28, 2021, is $124,305,308 (https://nnw.fm/0NwJo).
LQwD is working on a three-pronged strategy that includes the following:
- Offering PaaS (Platform as a Service) for Lightning Network Nodes and Payments Channels
- Becoming the LSP providing routing and liquidity services
- Accumulating Bitcoin as a treasury reserve asset, and for staking and liquidity
The goal is to build a strong brand and claim a place in the highly sought-after digital payment industry.
When it becomes fully operational, the Lightning Network platform-as-a-service will help LQwD secure a leading role in this industry by enabling users to leverage the network’s infrastructure for instant, secure, and inexpensive payments anywhere in the world using Bitcoin.
The platform’s development and growth come as the entire cryptocurrency market is continuing an upward trend. The growth is being fueled by transparency in the financial sector and the use of distributed ledger technology. Venture capital investments are also a crucial driving factor for the growth of the cryptocurrency market (https://nnw.fm/VTvvc).
Many U.S. banks and other payment platforms are creating blockchain-based systems to allow for B2B and P2P cryptocurrency payments between users. Last year, PayPal announced its intention of allowing customers to buy, sell, and hold Bitcoin and other cryptocurrencies in their PayPal accounts. One limiting factor in determining the market’s potential is the lack of regulatory status. Despite this, the sector will continue to expand as there is growing acceptance of cryptocurrency payments in the U.S.
LQwD’s plan for Q4 2021 is to secure market share and growth through payment channel revenue and transaction fees. The company also expects significant revenue to occur from potential, future strategic acquisitions. The use of the Lightning Network helps to increase the number of Bitcoin transactions per second (“TPS”) which currently averages as 7 TPS. Lightning Network allows Bitcoin transactions to be increased to millions per second allowing Bitcoin to be more scalable and usable as a global currency.
For more information on LQwD and the Lightning Network, visit the company’s website at https://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
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
