VANCOUVER, BC, Oct. 5, 2021 /CNW/ - Lightning Network focused
company, LQwD FinTech Corp. (TSXV: LQWD) (OTC:
LQWDF) announces that it has established routing nodes and has
deployed Bitcoin into payment channels on the Lightning Network,
providing essential liquidity to support the significant growth
over the past year of the Lightning Network (LN).
This milestone is the first stage in the Company's Lightning
Network platform becoming operational, providing infrastructure,
solutions, and liquidity to support the development of the network
and earning fees in the process.
The Lightning Network, a layer 2 payment protocol built on top
of the Bitcoin blockchain, is composed of nodes (computers) running
the LN software, connected to other nodes via payment channels
allowing them to forward payments on the way to their final
destination (payment recipient). Every payment channel needs enough
Bitcoin on them for a payment to go through. LQwD, as an LSP
or Lightning Network Services Provider, stakes its Bitcoin on
routing nodes to help ensure the functioning of the network where
fees can be earned for forwarding transactions. The Company
believes this growth, shown through the increased number of nodes,
payment channels and overall network capacity, will
continue. The Company intends to establish as large of a
footprint as possible in order to capture transaction fees as
network volume grows.
Recent use cases of the utility of the Lightning Network have
been demonstrated in El Salvador
through mainstream merchants such as McDonalds and Starbucks using
it for payment, as well as Twitter enabling it for tipping on their
global social media platform with 200 million daily active
users.
Demonstrable growth of the Lightning Network since January 1, 2021:
|
January
2021
|
October
2021
|
% Increase
|
Nodes
|
15,440
|
27,376
|
77%
|
Channels
|
36,412
|
74,221
|
103.80%
|
Network
Capacity
|
1,052
|
2,971
|
182.40%
|
|
|
|
|
Current Network
Capacity: US$142,610,0431,052
|
Source: 1ml.com
For more information on the Lightning Network, please visit
LQwDFintech.com or LQwDFintech.com/ln-stats/.
About LQwD
LQwD is a Lightning Network Service Provider (LSP) focused
company developing payment infrastructure and solutions. The
Company's mission is to develop institutional grade services that
support the Lightning Network and drive improved functionality,
transaction capability, user adoption and utility and scaling
Bitcoin. LQwD also holds Bitcoin as an operating asset establishing
nodes and payment channels across the Lightning Network.
Forward-Looking Statements
This news release contains "forward-looking information"
within the meaning of applicable securities laws relating to the
Company's business plans and the outlook of the Company's industry.
Although the Company believes, in light of the experience of its
officers and directors, current conditions and expected future
developments and other factors that have been considered
appropriate, that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because the Company can give no assurance
that they will prove to be correct. Actual results and developments
may differ materially from those contemplated by these statements.
The statements in this press release are made as of the date of
this release and the Company assumes no responsibility to update
them or revise them to reflect new events or circumstances other
than as required by applicable securities laws. The Company
undertakes no obligation to comment on analyses, expectations or
statements made by third parties in respect of the Company, LQwD
Financial, their securities, or their respective financial or
operating results (as applicable).
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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content:https://www.prnewswire.com/news-releases/lqwd-announces-launch-of-lightning-network-routing-nodes-and-deployment-of-bitcoin-into-payment-channels-301393143.html
SOURCE LQwD FinTech Corp.