- The Lightning Network provides instant payment transfers/settlement times, scalability, low costs/fees, and works across blockchain with the same cryptographic hash function
- The Network’s capacity grew from 1,089 BTC to 3,479 BTC in 12 months
- LQwD’s active public nodes on the Lightning Network include France, England, Singapore, Sweden, Italy, Indonesia, Germany, Ireland, and the U.S. and collectively have a value of 10.21604901 BTC (US$429,153.33) and 183 active channels
In early October 2021, the research division for Arcane Crypto released their predictions on the advancement of the Lightning Network — hypothesizing that by 2030, the number of users could cross the threshold of 700 million worldwide (https://nnw.fm/4ddTN). The foundation of their research is the consistent growth of the network since 2020, with a wallet payment volume that increased by approximately 20% month-over-month during 2021. They also believe that remittance, gaming and streaming use cases will help realize these numbers in the future.
The Lightning Network is a “layer 2” payment protocol layered on a blockchain-based cryptocurrency. The Network is decentralized and uses smart contract functionality to enable payments across the entire network of participants. Benefits of using the Lightning Network to initiate payments and transfers using Bitcoin include:
- Instant payment transfers/settlement times
- Scalability that offers millions to billions of transactions per second
- Low cost, low fee option to send/receive payment
- Works across blockchain as long as both support the same cryptographic hash function
Despite the recent Bitcoin market fluctuations, the number of Bitcoin locked in the Lightning Network has continued to rise in value. In February 2022, the number of Bitcoin locked in the Network had tripled from a year prior — 1,089 BTC to 3,479 BTC, respectively. Considering Bitcoin value, the worth of the Lightning Network at the time of the report stood at around $1.3 billion (https://nnw.fm/yPuNh).
LQwD FinTech (TSX.V: LQWD) (OTCQB: LQWDF), a financial technology company invested in the adoption of Bitcoin and associated technology, introduced its platform-as-a-service (“PaaS”) in November 2021, offering users the ability to make payments instantly, securely and inexpensively, while leveraging the Lightning Network. Since that time, LQwD has also invested in the Lightning Network, with nine active public nodes on the network. The active nodes include France, England, Singapore, Sweden, Italy, Indonesia, Germany, Ireland, and the U.S. Collectively, the public nodes have a value of 10.21604901 BTC ($429,153.33) and 183 active channels.
For more information, visit the Lightning Network Search and Analysis Engine at www.1ML.com.
Despite speculation that the Lightning Network has “plateaued,” the current capacity sits at over 3,500 BTC and continues to rise organically. Instead of the intense rise, which tripled numbers in 2021, experts view this current trend as a natural increase in the network. The Lightning Network is currently still recording a 30% annualized growth — when looking at it on a 30-day average (https://nnw.fm/hKIlA).
The Lightning Network’s growth reflects a general increasing trend in the global cryptocurrency market. The sector was valued at $826.6 million in 2020 and is expected to grow at a CAGR of 11.1%, resulting in a value of $1.9 billion in 2028 (https://nnw.fm/OeCPG). The rise in this market can be attributed to distributed ledger technology, rising digital investments in venture capital, and the adoption of cryptocurrency by more countries as legal tender. The adoption of these coins for transactions is also likely to increase in the coming years, facilitating the growth of the market.
For more information, visit the company’s website at www.LQwDFinTech.com.
NOTE TO INVESTORS: The latest news and updates relating to LQWDF are available in the company’s newsroom at https://nnw.fm/LQWDF
About NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
To receive SMS text alerts from NetworkNewsWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information, please visit https://www.NetworkNewsWire.com
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.NetworkNewsWire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
NetworkNewsWire is part of the InvestorBrandNetwork.
No comments:
Post a Comment