February28 , 2024

LQWD’s Bitcoin Lightning Network Routing Volume Achieves Record Milestone

Related

gossip news
free fashion tv

Share

VANCOUVER, BC, Jan. 30, 2024 /PRNewswire/ – LQWD Technologies Corp., (TSXV: LQWD) (OTC: LQWDF) a leading infrastructure and liquidity provider for the Bitcoin Lightning Network, as well as a holder of Bitcoin as an operational asset, announces the milestone of surpassing over 325,000 in transaction routing volume across the Company’s global node network.

Since the initial launch of LQWD’s first LN node in November 2021, routing transaction volume is consistently achieving month-over-month organic growth at an impressive rate, with the top performing nodes in Canada, USA, Indonesia, France, and Germany.

A key factor that has attributed to LQWD’s volume acceleration is the collection of key data points and the implementation of AI to improve performance.  Since leveraging AI to optimize and automate channel opening, LQWD’s nodes have now connected to more than 1,000 channels across the network, with the Company’s Canada node ranking amongst the top seven of more than 14,000 reported nodes over the LN network. Moreover, the Company’s Canada node hit record volume in December 2023 with nearly 35,000 transactions routed, which is a substantial volume breakout that can be attributed to LQWD’s AI powered capabilities.

Shone Anstey, LQWD’s CEO, commented “We are beginning to see a network effect taking place with 1,200% growth in transactions over the LN in the past two years as well as increasing interest and funding from Venture Capital companies. Our team is very excited and can foresee the opportunities for LQWD as the only publicly traded Bitcoin Lightning Network pure play within the rapidly growing eco-system. Furthermore, LQWD is firmly established as a LN focussed company with a revenue generating model in place to capture continued growth of the network and the associated transaction fee revenue.”

With the completion of the recent private placement, which was fully subscribed predominately by existing shareholders and directors, LQWD is well positioned for organic growth as well as growth through acquisition.

For more details, check out LQWD Technologies Corp.’s corporate presentation, and stay updated on Lightning Network node growth or connect to our nodes in real time.

About Lightning Network

Bitcoin Lightning Network is a payment layer for the internet. LN leverages the power of Bitcoin‘s supreme trust protocol, which facilitates instant peer-to-peer transaction faster than any other payment rail. It is reported that LN activity has increased by 1200% over the past two years with participants such as MicroStrategy (MSTR) driving adoption and developing enterprise grade LN tools for business, taking advantage of the unmatched capability of the network.

Most recently, LN announced the integration of stable coin transaction capability, which opens LN to a much wider user base. Furthermore, many of the world’s top cryptocurrency exchanges are integrating LN into their platforms as well as forward-thinking global business as LN transacts dramatically faster and cheaper than current payment rails such as Visa and Mastercard.

About LQWD Technologies

LQWD is a Bitcoin Lightning Network Liquidity Provider focused on developing payment infrastructure and solutions accelerating the global mega trend of Bitcoin adoption through the Lightning Network. LQWD also owns Bitcoin that is used as an operating asset establishing nodes and payment channels on 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, considering 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. 

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.

SOURCE LQWD Technologies Corp.

Originally published at https://www.prnewswire.com/news-releases/lqwds-bitcoin-lightning-network-routing-volume-achieves-record-milestone-302048261.html
Images courtesy of https://pixabay.com