LQWD Updates Bitcoin Lightning Network Operations
Vancouver-based LQWD Technologies Corp. (TSXV:LQWD, OTCQB: LQWDF) has reported significant operational progress within the Bitcoin Lightning Network. Since adopting an AI-driven channel rebalancing system in September 2023, transaction volume has more than quadrupled. LQWD has facilitated over 635,000 transactions and 640 Bitcoin, equating to CAD $31.7 million in total transacted value since launching its first node in November 2021.
LQWD anticipates further volume growth through partnerships with AMBOSS and BREEZ. The company earns transaction fees in Bitcoin fractions, with revenue expected to rise alongside increased Lightning Network adoption. As the second-largest routing node operator, LQWD operates in 18 countries with over 1,100 connected channels, including significant activity in France, Singapore, Sweden, Italy, Japan, South Korea, and Indonesia. The Canadian node ranks among the top ten connected nodes globally.
- Transaction volume has quadrupled since September 2023.
- Over 635,000 transactions and 640 Bitcoin facilitated, totalling CAD $31.7 million.
- Established partnerships with AMBOSS and BREEZ to drive volume growth.
- Revenue-generating model based on transaction fees in Bitcoin fractions.
- Operating in 18 countries with over 1,100 connected channels.
- Ranked as the second-largest routing node operator on the Lightning Network.
- Routing fees are currently nominal in dollar value.
VANCOUVER, BC / ACCESSWIRE / July 10, 2024 / LQWD Technologies Corp., (TSXV:LQWD)(OTCQB:LQWDF) ("LQWD" or "the Company") a leader in providing global enterprise grade transaction infrastructure for the Bitcoin Lightning Network ("Lightning") is pleased to report our operational progress.
Volume growth has more than quadrupled since the implementation of sophisticated AI-driven channel rebalancing system in September 2023. Since the launch of our first node in November 2021, LQWD has now facilitated routing for over 635,000 transactions and 640 Bitcoin through the Company's Lightning infrastructure for a totalling CDN
In addition to organic volume growth being experienced, LQWD expects increased volume through partnerships with prominent Bitcoin Lightning Network technology companies, AMBOSS and BREEZ, who are integrating into LQWD's transaction infrastructure and liquidity services.
See channel growth and node volume in real time.
LQWD's scalable revenue-generating model earns fees for each transaction routed through the Company's LN infrastructure. These fees are paid in fractions of Bitcoin (Sats: 100M Sats = 1 Bitcoin), which are nominal in terms of dollar value at the present time. However, it is anticipated that routing fees and liquidity service fees will increase based on the continued rapid adoption of Lightning and increasing volume growth through LQWD's infrastructure.
As the second largest routing node operator on the network, LQWD is firmly established and trusted within the LN ecosystem. LQWD's network is now established in 18 countries with well over 1,100 LN connected channels, and increasing channel growth and transactions in France, Singapore, Sweden, Italy, Japan, South Korea, and Indonesia. LQWD's Canada node remains among the top ten connected nodes on the Lightning Network.
For more details, check out LQWD's corporate presentation.
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More About Lightning Network
Bitcoin Lightning Network is a payment layer for the internet. Lightning leverages the power of Bitcoin's supreme trust protocol, which facilitates instant peer-to-peer transactions faster than any other payment rail. It is reported that network activity has increased by 1,
Most recently, Lightning announced the integration of stable coin transaction capability, which opens the network to a much wider user base. Furthermore, many of the world's top cryptocurrency exchanges are integrating Lightning into their platforms as well as forward-thinking global business as Lightning transacts dramatically faster and cheaper than ant current payment rails such as Visa and Mastercard.
About LQWD Technologies
The internet lacks a protocol for money. LQWD is building the infrastructure, to make instant, low cost, internet-powered payments happen. We are building enterprise-ready infrastructure for open payments for the Internet at scale, using the Lightning Network. LQWD is a Bitcoin backed, audited publicly traded company. Our shares trade on the TSX Venture Market, trading symbol: LQWD, and in the United States OTC: LQWDF.
Visit lqwdtech.com for further information.
For further information:
Ashley Garnot, Director
Phone: 1.604.669.0912
Email: ashley@lqwd.money
Website: www.lqwdtech.com
Twitter: @LQWDTech
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
View the original press release on accesswire.com
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