- The Lightning Network has seen substantial growth during 2021, some of which is attributed to El Salvador’s adoption of BTC as legal tender
- LQwD launched its lqwd.tech platform November 17, while simultaneously deploying Bitcoin to ensure platform liquidity
- Companies leveraging LQwD’s Lightning Network nodes will be able to monitor, deploy, and manage these nodes with no-to-low levels of technical expertise
One of the biggest problems described by users of the bitcoin blockchain is the slow transaction speed, right along with the fees associated with the transaction itself. The innovative Lightning Network was designed as a solution to these issues. The network is a layer 2 payment protocol that uses micropayment channels that promise faster transaction times and lower associated costs. The use of the Lighting Network helps decongest the blockchain and facilitate Bitcoin transactions. This concept was originally proposed in 2015 by Joseph Poon and Thaddeus Dryja and has been in development since.
In 2021, the Lightning Network hit several all-time highs, denoting the network’s growing popularity and supporting its expansion. Some of the network’s growth can be attributed to El Salvador’s adoption of Bitcoin as legal tender. At an overall total of 3,255, there is now a record number of…
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