LQwD FinTech Corp. (TSX.V: LQWD) (OTCQB: LQWDF) Increases to 19 Worldwide Lightning Network Nodes as FED Working Paper Supports Bitcoin Scalability Through the Network
- LQwD is leveraging the Lightning Network for BTC scalability with 19 nodes active and the goal of creating Lightning Network node access in 24 countries by the end of this financial quarter
- LQwD nodes include US-West, Ireland, India, Germany, Brazil, Hong Kong, Singapore, Sweden, South Korea, South Africa, Bahrain, Indonesia, Italy, Australia, Japan-Osaka, France, Canada, England, and Japan
- The cryptocurrency market was valued at US $1.6 billion in 2021 and is expected to reach $2.2 billion by 2026, growing at a CAGR of 7.1%
The Federal Reserve Bank of Cleveland Working Paper Series released Working Paper 22-19 in June 2022 entitled “The Lightning Network: Turning Bitcoin into Money.” The FED conjectures early on that the Lightning Network (“LN”) has reduced Bitcoin blockchain congestion and resulted in lower mining fees. Since its introduction in 2009, Bitcoin has grown in value but still has capacity constraints regarding payment processing capability. The average blockchain transaction only allows seven transactions per second, which pales in comparison with centralized payment infrastructures like Visa or Mastercard (https://nnw.fm/2vxBK ).
The introduction of the Lightning Network has reduced the amount of time it takes for payment processing to provide almost instant results. The overall consensus is that the Network can help Bitcoin achieve greater scalability as a payments system and states, “According to our results, if the LN had existed in 2017, congestion could have been 93 percent lower,” the paper says.
The Lightning Network was designed as a viable solution to massively scale bitcoin on a global level, dramatically increasing the number of transactions, lowering the fees associated with transactions, and creating instant settlement times for microtransactions. The LN is a layer 2 payment protocol and eases the scalability of using bitcoin transactions to make payments quickly, easily, and securely using Bitcoin or Litecoin for transactions.
One company focused on increasing the scalability of Bitcoin and transactions using the LN by creating enterprise-grade infrastructure is LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF). In November 2021, LQwD released its platform-as-a-service (“PaaS”) offering, https://lqwd.tech/, which serves as a platform for node hosting and managing channels on the LN, and acts as a Liquidity Service Provider (“LSP”) for merchants. LQwD’s nodes are distributed globally to allow for maximum scalability and growth.
Through LQwD’s PaaS, users have access to a network of LN nodes that allow for faster transactions, lower fees, and higher levels of security. As a publicly traded company, LQwD is leveraging its position with the public to enhance trust in its products and services, easily access capital through the market, leverage its stock as currency for acquisitions, and attract/retain top industry talent to further provide scalable solutions that enhance the adoption of Bitcoin.
LQwD’s first node (US-West) launched in November 2021 and is now the company’s oldest operational node with a capacity of over 6 BTC and 117 open channels. LQwD currently has 19 active nodes worldwide on the LN, including US-West, Ireland, India, Germany, Brazil, Hong Kong, Singapore, Sweden, South Korea, South Africa, Bahrain, Indonesia, Italy, Australia, Japan-Osaka, France, Canada, England, and Japan. The two newest nodes are located in Australia and Japan-Osaka. The company’s goal is to be operational with nodes spanning 24 countries worldwide by the end of the current financial quarter.
In 2021, the cryptocurrency market size was valued at US $1.6 billion, and it is expected to reach US $2.2 billion by 2026, growing at a CAGR of 7.1% over the forecast period. The market’s growth can be attributed to the economic conditions and a rise in demand for cryptocurrency across various applications. The launch of various hardware and software companies has contributed to this industry’s growth. LQwD is leveraging its position in this market to bring larger scalability to the Lightning Network and Bitcoin potential (https://nnw.fm/AtnLI ).
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
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
- LQwD is leveraging the Lightning Network for BTC scalability with 19 nodes active and the goal of creating Lightning Network node access in 24 countries by the end of this financial quarter
- LQwD nodes include US-West, Ireland, India, Germany, Brazil, Hong Kong, Singapore, Sweden, South Korea, South Africa, Bahrain, Indonesia, Italy, Australia, Japan-Osaka, France, Canada, England, and Japan
- The cryptocurrency market was valued at US $1.6 billion in 2021 and is expected to reach $2.2 billion by 2026, growing at a CAGR of 7.1%
The Federal Reserve Bank of Cleveland Working Paper Series released Working Paper 22-19 in June 2022 entitled “The Lightning Network: Turning Bitcoin into Money.” The FED conjectures early on that the Lightning Network (“LN”) has reduced Bitcoin blockchain congestion and resulted in lower mining fees. Since its introduction in 2009, Bitcoin has grown in value but still has capacity constraints regarding payment processing capability. The average blockchain transaction only allows seven transactions per second, which pales in comparison with centralized payment infrastructures like Visa or Mastercard (https://nnw.fm/2vxBK ).
The introduction of the Lightning Network has reduced the amount of time it takes for payment processing to provide almost instant results. The overall consensus is that the Network can help Bitcoin achieve greater scalability as a payments system and states, “According to our results, if the LN had existed in 2017, congestion could have been 93 percent lower,” the paper says.
The Lightning Network was designed as a viable solution to massively scale bitcoin on a global level, dramatically increasing the number of transactions, lowering the fees associated with transactions, and creating instant settlement times for microtransactions. The LN is a layer 2 payment protocol and eases the scalability of using bitcoin transactions to make payments quickly, easily, and securely using Bitcoin or Litecoin for transactions.
One company focused on increasing the scalability of Bitcoin and transactions using the LN by creating enterprise-grade infrastructure is LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF). In November 2021, LQwD released its platform-as-a-service (“PaaS”) offering, https://lqwd.tech/, which serves as a platform for node hosting and managing channels on the LN, and acts as a Liquidity Service Provider (“LSP”) for merchants. LQwD’s nodes are distributed globally to allow for maximum scalability and growth.
Through LQwD’s PaaS, users have access to a network of LN nodes that allow for faster transactions, lower fees, and higher levels of security. As a publicly traded company, LQwD is leveraging its position with the public to enhance trust in its products and services, easily access capital through the market, leverage its stock as currency for acquisitions, and attract/retain top industry talent to further provide scalable solutions that enhance the adoption of Bitcoin.
LQwD’s first node (US-West) launched in November 2021 and is now the company’s oldest operational node with a capacity of over 6 BTC and 117 open channels. LQwD currently has 19 active nodes worldwide on the LN, including US-West, Ireland, India, Germany, Brazil, Hong Kong, Singapore, Sweden, South Korea, South Africa, Bahrain, Indonesia, Italy, Australia, Japan-Osaka, France, Canada, England, and Japan. The two newest nodes are located in Australia and Japan-Osaka. The company’s goal is to be operational with nodes spanning 24 countries worldwide by the end of the current financial quarter.
In 2021, the cryptocurrency market size was valued at US $1.6 billion, and it is expected to reach US $2.2 billion by 2026, growing at a CAGR of 7.1% over the forecast period. The market’s growth can be attributed to the economic conditions and a rise in demand for cryptocurrency across various applications. The launch of various hardware and software companies has contributed to this industry’s growth. LQwD is leveraging its position in this market to bring larger scalability to the Lightning Network and Bitcoin potential (https://nnw.fm/AtnLI ).
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
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
