- LQwD released its platform as a service offering in November 2021, also releasing its first node on the Lightning Network – US-West
- Since then, nine additional nodes have been released worldwide: Ireland, India, Germany, Indonesia, Italy, Singapore, Sweeden, England, and France – with more likely to follow
- Despite volatility in Bitcoin, the Lightning Network continues to grow, with most recent reports indicating that the Network’s capacity is over 3,539 BTC
- Users can send payments quickly and with lower fees when utilizing the Lightning Network and PaaS solutions like LQwD
One of the most dependable characteristics of the cryptocurrency market is its volatility. Despite seeing an all-time high in November 2021, the current cryptocurrency market cap has lingered in the US $1.24 to US $1.31 trillion range struggling to break beyond this limited barrier. On May 24, 2022, the closing price of Bitcoin again fell below US $30,000 – dropping more than 3% in 24 hours. “The crypto market struggled to stay in the green as sellers dominated the market to open the week. Tether has paid $10 billion in withdrawals since the crypto market, which indicates large-scale liquidations across the crypto market by the investors to recalibrate their portfolio,” BuyUcoin CEO Shivam Thakral stated (https://ibn.fm/CJmAp). “The crypto market is expected to stay in a bear phase for some time, and most the investors will stay in a wait and watch mode.”
Not all companies are in the “watch and wait” mode when it comes to Bitcoin or the Lightning Network. LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a financial technology company focused on creating enterprise-grade infrastructure to drive bitcoin adoption, is still leveraging the Lightning Network with its platform as a service (“PaaS”). LQwD launched its PaaS offering lqwd.tech in November 2021, the same time it launched its first node on the Lightning Network in the United States. Since then, LQwD has strategically launched nine additional nodes worldwide in Ireland, India, Germany, Indonesia, Italy, Singapore, Sweden, England, and France.
The Lightning Network is a layer 2 payment protocol layered on the blockchain of the native cryptocurrency it facilitates – in this instance, Bitcoin. The Lightning Network comprises nodes that are connected via various channels. These channels are created when Bitcoin is used as collateral for the payment transfers. The eventual goal is to create a connected network that gets payments from the point of origin to the end user in as few “jumps” as possible. The benefits of using the Lightning Network include lower fees and faster transaction settlement times. The Bitcoin blockchain does not have the capacity to facilitate thousands of payments at one time, making the scaling of the Lightning Network even more important as acceptance of cryptocurrency rises.
The Bitcoin Lightning Network continues to grow, despite the volatility of the actual market. As of the most recent reports (March 2022), the capacity of the Lightning Network currently exceeds 3,539 BTC. This means that anyone looking to send a payment of less than the capacity can be facilitated using the Lightning Network – as more nodes and channels are created, the capacity will only increase. The current estimate is that the Network will continue to grow by over 30% annualized. To follow the Lightning Network, visit the Lightning Network Search and Analysis Engine at https://1ml.com/.
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://ibn.fm/LQWDF
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