LQWD Technologies Corp. (TSX-V:LQWD, OTCQB:LQWDF) highlighted the implementation of artificial intelligence (AI) technology integration into its Lightening Network nodes in its six-monthly report back to investors.
The company said this resulted in a 4,500% increase in channels for the LQWD-Canada node, which now ranks among the top five nodes on the entire Lightening Network, recently surpassing the Kraken exchange node.
LQWD noted that overall growth of the Lightning Network continues to accelerate at a "phenomenal" pace with network transaction volumes growing by 1,200% growth over the past two years.
While its 18 strategically placed international nodes also continue to achieve growth, with transaction volume now over 240,000, the company said the implementation of AI to its operations means its Lightening business is also likely to increase at a rapid rate.
Other highlights for the six months ending August 31, 2023, included the appointment of accomplished public company executive Alex Guidi to its Board of Directors and the closing of two non-brokered private placements totaling $1,182,000.
“LQWD is well positioned to capitalize on its Lightning Network business, with no debt, approximately $1.1 million in working capital, and ~114 Bitcoin that is beginning to earn fees in the form of Satoshi's on the network,” the company added.
LQWD Technologies is a Lightning Network Liquidity Provider focused on developing payment infrastructure and solutions accelerating the global megatrend of Bitcoin adoption through the Lightning Network.
LQWD also owns Bitcoin which is used as an operating asset establishing nodes and payment channels on the Lightning Network.
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