Bitcoin’s First Sidechain is Blockstream’s ‘Liquid’
On October 13, Blockstream announced its first sidechain project: Liquid. The first production sidechain is a platform that will allow rapid liquidity between Bitcoin exchanges and brokers. Five services collaborated with Blockstream’s developers, Bitfinex, BTCC, Kraken, Unocoin, and Xapo will operate the private chain together sharing order books. Liquid will provide processors reduced accounting time within trading to produce a more fluid exchange arrangement. Founding member and Chief Instigator, Austin Hill states: “As a Bitcoin-centric company, we are excited to be delivering a....
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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....
Blockstream has announced Raretoshi, a new NFT marketplace built on the Liquid Bitcoin sidechain.
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....
Now called Core Lightning, Blockstream’s Lightning Network implementation seeks to be Bitcoin’s interoperable, specification-focused standard.
Pending Liquid transactions had been queued in the mempool for roughly 22 hours after the network reported an issue which caused "block signer nodes failing to validate certain parameters against each other." Block production on Blockstream’s Liquid network has resumed after technical problems related to a functionary upgrade caused many transactions to queue for hours.In a Monday update from a Liquid oversight board member identified only as Wiz, Liquid’s failsafe mode was activated yesterday as “an unexpected issue occurred causing block signer nodes failing to validate certain....