- The Lightning Network offers consumers increased transaction speeds, worldwide access, and lower fees when sending micropayments across its nodes
- LQwD is leveraging the Lightning Network using its own Bitcoin assets to provide solutions for consumers; company plans to expand reach to 24 countries worldwide by the end of the current quarter
- The need for transparency in the financial industry is fueling the growth of the cryptocurrency market, with an anticipated value of US $4.94 billion by 2030
The concept of The Lightning Network was brought to the general public in 2015 when Bitcoin developers Joseph Poon and Thaddeus Dryja published an article about bringing “scalable off-chain payment” to the public. Since then, the layer 2 payment protocol atop the Bitcoin blockchain has grown, providing higher scalability for sending and receiving payments across channels worldwide. With more countries accepting cryptocurrency payments, there is an increased interest coming from community banks and countries seeking to find viable solutions to their banking problems – giving the masses access to payment solutions, faster transaction times, and enhanced security on a global level.
Leveraging its own Bitcoin assets, LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a financial technology company focused on creating enterprise-grade infrastructure to drive bitcoin adoption, has expanded its reach, providing Lightning Network nodes across 17 countries and a goal of increasing its presence to…
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