Date: 2 months ago   Category: Economy

The Saydcheyn-network of bitcoin Liquid from Blockstream is started


The Saydcheyn-network of bitcoin Liquid from Blockstream is started
Samson Mow, the main strategist of Blockstream, declared today that the blockchain startup started Liquid network, сайдчейн bitcoin.

the Company writes that Liquid is "innovative сайдчейн, constructed on network of bitcoin, facilitating fast transactions of bitcoin between institutions and individuals, at the same time providing expanded functionality". A main objective of technology - fast calculations, the improved confidentiality of transactions and tokenization for various assets.

Saydcheyn works as the second level of data over a bitcoin blockchain. Keeping the last register as the copy, transactions which happen on the saydcheena, do not demand inclusion in the main unit of a blockchain. It means that no commission collecting snares, and blocks of a blockchain are not filled with accounts of a saydcheyn. A word "is attached" means that the blockchain for a saydcheyn corresponds to bitcoin. "Bilaterally attached" Liquid means that its own asset can be changed to bitcoin (in a chain) without problems.

the Liquid Network uses own asset which is called Liquid Bitcoin (L-BTC). L-BTC - is bilaterally tied to BTC which can be redeemed at any time in network. According to Mow, own asset allows to improve confidentiality and speed.

according to Blockstream, Liquid network will lean on hardware and the software which is used by the enterprises of cryptocurrency branch: participants and bitcoin company develop

of the Exchange program and the hardware making Liquid network they could become attached to bitcoin blocks and offer the traders of the Liquid function. The Liquid network provides safer and effective system of exchange of bitcoin for movement on network. by

However as the exchanges receive benefit only from transfer of bitcoin, it is not favorable to mayner who will not be able to earn reward for a mining. Mayner gets profit when L-BTC is replaced with the real BTC.

Besides, Liquid is a network which relies on the "entrusted functionaries" consisting of "consensus of participants". Blockstream recognizes that "it will never be as decentralized as bitcoin". Though Mow claims that any party, even Blockstream will not be able to control Liquid, and each of participants controls no more than one Liquid-functional server, it is necessary to find out how it occurs in practice, observing the drama with EOS and other more centralized networks. What differ among themselves in Liquid and Lightning Network which is also the solution of the second level for bitcoin in? Though functions of what will do Liquid similar to what does or promises to do Lightning Network, they serve the different purposes. Lightning Network is constructed for micropayments which can be established quickly and practically, and now it has small capacity to minimize risk for users.

Liquid Network is accurately directed?? on large f

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