LQwD FinTech Corp. (TSXV: LQWD, OTC: LQWDF), an emerging technology company developing payment infrastructure for the Bitcoin Lightning Network (LN), announces strategic deployment of a routing node in Jakarta, Indonesia.
“With a population of more than 260 million and over $50 billion crypto assets reportedly traded, Indonesia is one of the world’s most valuable, untapped, emerging markets, with all the right dynamics for Lightning Network to excel,” said LQwD CEO Shone Anstey. “Recently, the Indonesia Commodity Futures Trading Supervisor Agency (CoFTRA) announced acceptance to trade in over 200 cryptocurrencies, which will help pave the way for Lightning Network to become one of Indonesia’s preferred platforms for micro-payments and other transactions.”
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Including LQwD’s recent node launch in Singapore and Germany, 127 nodes have interconnected with more than 130 transaction channels, routing approximately 10 Bitcoin through LQwD’s connected channels since launching our first Lightning Network node in late November 2021.
To follow LQwD’s node and channel growth, visit http://www.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 currently charged, 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.