LQwD Announces Launch of Lightning Network Routing Nodes and Deployment of Bitcoin into Payment Channels

Lightning Network focused company, LQwD FinTech Corp. announces that it has established routing nodes and has deployed Bitcoin into payment channels on the Lightning Network, providing essential liquidity to support the significant growth over the past year of the Lightning Network (LN).

This milestone is the first stage in the Company’s Lightning Network platform becoming operational, providing infrastructure, solutions, and liquidity to support the development of the network and earning fees in the process.

Read More: Financial Services are Experiencing Massive Adoption in the Philippines Through GCash

The Lightning Network, a layer 2 payment protocol built on top of the Bitcoin blockchain, is composed of nodes (computers) running the LN software, connected to other nodes via payment channels allowing them to forward payments on the way to their final destination (payment recipient). Every payment channel needs enough Bitcoin on them for a payment to go through.  LQwD, as an LSP or Lightning Network Services Provider, stakes its Bitcoin on routing nodes to help ensure the functioning of the network where fees can be earned for forwarding transactions. The Company believes this growth, shown through the increased number of nodes, payment channels and overall network capacity, will continue. The Company intends to establish as large of a footprint as possible in order to capture transaction fees as network volume grows.

Read More: DeFi Enabled, Enterprise Grade Hybrid Blockchain, XDC Network, Gains Compliance Edge

Recent use cases of the utility of the Lightning Network have been demonstrated in El Salvador through mainstream merchants such as McDonalds and Starbucks using it for payment, as well as Twitter enabling it for tipping on their global social media platform with 200 million daily active users.

Demonstrable growth of the Lightning Network since January 1, 2021: