VANCOUVER, BC / ACCESSWIRE / May 1, 2024 / LQWD Technologies Corp., (TSXV:LQWD)(OTC:LQWDF) ("LQWD" or "the Company") provides liquidity and routing transaction infrastructure for the Bitcoin Lightning Network. LQWD owns 115 Bitcoin, which are used to operate LQWD's transaction infrastructure, and provides the Company with a Bitcoin based core asset.
LQWD has developed and is operating a scalable revenue model for the Lightning Network that receives routing fees for each transaction on LQWD's infrastructure. These fees are paid in Bitcoin (Satoshi's), which are nominal at present time. However, it is anticipated that the fees will increase in the future based on further adoption of the Lightning Network. Therefore, LQWD believes in the future potential of the network and is focussed on continuing to build market share.
Routing transactions continue to grow. In April 2024, there were 64,678, an increase over the record month of March 2024. The total routing volume through LQWD's infrastructure is now approximately 500,000, routing over 569 Bitcoin through LQWD's infrastructure since launching in November 2021.
LQWD's organic volume growth can be attributed to the implementation of AI-driven channel rebalancing system, which was implemented in September 2023. LQWD has also secured partnerships with VC-backed Bitcoin Lightning Network companies, AMBOSS Technologies and the BREEZ wallet, who are utilizing LQWD's infrastructure to facilitate liquidity and routing.
In addition to LQWD's routing volume growth, the Company's global infrastructure network has established well over 1000 channels. The top performing node is Canada followed by France, Sweden, Italy, Singapore and Japan.
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 and transaction layer for the internet. LN 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 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 Canadian-based corporation which has a developed a scalable revenue generating model providing transaction infrastructure and liquidity for Bitcoin Lightning Network. LQWD also owns 115 Bitcoin and has no debt with approximately 13.2 million shares outstanding.
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
