VANCOUVER, BC, April 19,
2022 /CNW/ - LQwD FinTech Corp. (TSXV: LQWD) (OTC:
LQWDF), an emerging technology company developing payment
infrastructure for the Bitcoin Lightning Network (LN), is pleased
to announce two important milestones: the Company has deployed a
new routing node in India, and our
ten global routing nodes have now collectively reached over 10,000
transactions forwarded.
India is a tech savvy, densely
populated country with rapid digital adoption. It is ranked second
in countries seeing the fastest growth in cryptocurrency adoption
globally, and has one of the strongest internet markets in the
world, with approximately 750 million users.
"We are experiencing excellent transaction growth since
launching our first nodes in November
2021," remarked LQwD CEO, Shone Anstey. "The launch of our
Indian routing node is yet another step in securing a strong
presence on Bitcoin's Lightning Network." Industry experts estimate
the country to have more than 20 million crypto investors, with
most growth being driven by users under the age of 35.
LQwD's first node launched in November
2021, with ten now situated around the world, accounting for
more than 10,000 transactions forwarded. "The more transactions
routed through the Company's node network the better," Shone Anstey
further commented, "As each transaction represents a routing fee
paid to LQwD. This volume is validation that our Lightning Network
presence is building momentum and benefiting from Lightning
Network's expotential growth in adoption."
Follow our node growth on 1ml.com
About the Lightning
Network
The Lightning Network is layer-two technology that solves
the issue of mass scaling Bitcoin for global microtransactions. In
addition to enabling millions of transactions per second, the
Lightning Network dramatically reduces the fees curently charged to
users, and serves up instantaneous settlement times.
The Lightning Network continues to experience explosive growth
as follows:
- Since April 2021, node growth has
increased 227%, from 10,394 to over 34,000 nodes now
established.
- Bitcoin capacity increased from 1,060 BTC to 3,398 BTC, up 220%
from January 2021 to the
present.
- Payment channels are up 126%, rising from 38,000 to more than
86,000 established since January
2021.
Some well-known companies such as Lightning Labs, Twitter, and
Jack Dorsey's Block (Cash App), have
openly expressed their enthusiasm to incorporate the Lightning
Network into their platforms.
About LQwD
LQwD is a Lightning Network Service Provider (LSP) focused on
developing payment infrastructure and solutions accelerating the
global mega trend of Bitcoin adoption through the Lightning
Network. 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 and acquires Bitcoin 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.
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SOURCE LQwD FinTech Corp.