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LQwD Fintech Announces The Roll Out Of Additional European Routing Nodes

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LQwD Fintech
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  • LQwD Fintech Corp. declared the launch of its strategic deployment of additional European routing nodes.
  • Since the launch of the first Lightning Network node of LQwD in November 2021, with more than 158 transaction channels, 157 nodes have now interconnected, routing over 10 Bitcoin through LQwD’s connected channels.
  • These routing notes will also help provide access to the European Payments processing frontier. 

LQwD Fintech Corp. has announced the strategic deployment of additional European routing nodes. LQwD is an emerging technology firm that works on developing infrastructure for the Bitcoin Lightning Network (LN). 

Now the European routes of the company include Sweden, France, England, Italy, Ireland, and Germany. With the recent announcement of the deployment of nodes launched in Indonesia and Singapore, the company has positioned itself as a leading LN in major countries where the network is growing rapidly. Now, second to only North America, Europe now contains around 43 percent of all Lightning Network nodes.

CEO of LQwD FinTech, Shone Anstey, explains, “LQwD’s launch of these additional nodes firmly positions us to increase our overall value on the network,” Anstey further adds, “Being a leading Lightning Network infrastructure and transaction facilitator has a lot of value: First, Lightning Network’s early-movers (like us) are best positioned to strategically expand our position on the network. Second, the more nodes LQwD establishes worldwide; the more transactions can be routed through our node network. And each transaction represents a routing fee.”

In more than 150 transaction channels, 157 nodes are now interconnected, routing over 10 Bitcoin via connected channels of LQwD, since the launch of LQwD’s first Lightning Network node in late November 2021.

In October 2021, an Arcane State of Lightning Report estimated that the Lightning Network could host over 700 million users by 2030, eventually resulting in 364 trillion transactions per year.

In other news, the company has also disclosed that it has changed auditors to Kingston Ross Pasnak LLP (“KRP”) from De Visser Gray LLP (“De Visser Gray”) on 10th March 2022. 

Why is this important?

A layer-two technology, the Lightning Network works on solving the problem of mass scaling Bitcoin for global microtransactions. Additionally, the Lightning Network also significantly mitigates the current fee charges for users and facilitates instantaneous settlement times.

These nodes provide a gateway into the European Payments processing frontier, taking LQwD further close to their target of delivering instantaneous, scalable, off-chain, and cheap payments, making Bitcoin more accessible to the masses.

In addition to collecting transaction, routing, and processing fees, these new nodes also help leave a strong mark on the LN network. 

The Lightning Network continues to experience explosive growth as follows:

  • The growth of nodes has increased from 10,394 to more than 34,000 nodes, a 227% hike since April 2021. 
  • On the other hand, the capacity of Bitcoin increased 220% from January 2021 to the present, from 1,060 BTC to 3,398 BTC.
  • The payment channels have also increased from 38,000 to more than 86,000, up 126%, established since January 2021.

Famous companies such as Jack Dorsey’s Block (Cash App), Twitter, and Lightning Labs, in many instances, have showcased their interest in the lightning network, saying that they want to incorporate the Lightning Network into their platforms.

About LQwD

A Lightning Network Service Provider (LSP), LQwD’s main focus is to develop infrastructure and solutions, helping in the rapid adoption of Bitcoin through the Lightning network.

The company aims to establish institutional-grade services that back the Lightning Network and power better functionality, transaction capability, user adoption, and utility and scaling Bitcoin.

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