Blockstream Releases Working Sidechain Prototype
Sidechains have been in development for almost a year now and are widely regarded as ‘the Bitcoin 2.0 project’. Sidechains take decentralization to the extreme, aiming to create a protocol that will lead to more innovative decentralized applications by utilizing custom blockchain technology. After eight months of active development, Blockstream has....
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The seminal Bitcoin sidechains white paper “Enabling Blockchain Innovations with Pegged Sidechains,” released in 2014 by a team that went on to form Blockstream, a leading company in the blockchain space, envisaged an ecosystem of “sidechains” separate from the main Bitcoin blockchain but interoperable with it via peg mechanisms. A sidechain can carry bitcoin as currency, in which case users will be able to seamlessly transfer bitcoin between the sidechain and the main blockchain. A sidechain can implement more powerful scripting features or more watertight privacy. Increased throughput is....
Blockstream has announced its first Bitcoin sidechain called Liquid, set to be launched in early 2016. The sidechain will serve payment processors and brokerages among a dozen other major traders and licensed exchanges with instantaneous and secure transactions. Months after releasing the source code of Sidechain Elements - a codebase for developers to experiment and build sidechains, Blockstream, a startup comprising of a group of core Bitcoin developers has announced the first commercial application of sidechain technology with Liquid. Blockstream, having raised $21 million in venture....
Blockstream has been working on projects to extend Bitcoin for quite some time. It is one of a few such companies that believe that the block chain, and Bitcoin more generally, can be extended beyond its current abilities, and that experiments can take place which later on could benefit Bitcoin itself. One of its long-awaited projects has now been released to the community, Sidechain Elements. This project essentially serves as a codebase for sidechain developers to build sidechains. The burning question is: what is a sidechain? A sidechain is pretty much an alt coin without the alt, an....
Blockstream has announced it will launch its first commercial Bitcoin sidechain by early 2016. The sidechain, codenamed "Liquid," offers instant transactions, providing a fast settlement layer for bitcoin exchanges, brokerages and other industry members. As its main advantage, Liquid provides instant and secure transactions among all users of the sidechain. While Bitcoin transactions can typically take up to an hour to be sufficiently secured by the blockchain, Liquid offers a similar level of security within seconds. Blockstream, which received a $21 million funding round last year and....
On Tuesday, cryptocurrency supporters on social media and forums discussed Blockstream’s Liquid sidechain product as block signing had been down for over 20 hours. While Blockstream had noted the sidechain was undergoing a hard fork upgrade planned for October 5, a number of crypto proponents still scorned the project for being hypocritical toward blockchains like Solana. Blockstream’s Liquid Suffers From Block Signing Issues During Dynamic Federations Upgrade Cryptocurrency proponent Udi Wertheimer razzed the crypto company Blockstream on Tuesday as the Liquid....