Bitcoin Valley _ 12-10-2018
Wednesday 10 October 2018 Blockstream announced the launch of Liquid, the technological project to which it had been working for 3 years and also presented at the Building on Bitcoin Conference (Lisbon, July 2018), during which we were present as participants and sponsors.
Liquid mainly benefits traders and Exchanges, through the construction and use of a Bitcoin sidechain (off-chain) that reinforces the speed and privacy inherent in bitcoin liquidity movements among the participants. It is based on a Multi-Signature system: a multi-signature account through which signer groups can move capital in bitcoin more easily.
The Liquid protocol is based on Bitcoin and is different from Lightning Network, especially as regards the Trust model, since it can be defined as Trust-in-Federated and not Trustless. However, this implies a significant improvement in the current management of trust during operations on Exchange: to date trading bitcoin on an Exchange means relying on an external third party and guarantor (the Exchange) but not subject to our direct control (our bitcoins on Exchange are not completely ours anymore, but of the Exchange).
With Liquid, trust is still needed, but it is entrusted by the individual to the Exchange group of signing partners who participate in the sidechain, raising the levels of guarantee and security of operations.
The quality and technological advances given by the research and development of globally established and continuously growing companies such as Blockstream are the element to which we look with great interest for the development of future projects. Quality plays an important element that does not deteriorate, and it is precisely for this reason that we are pleased to inform you that beyond any opinion of Bitcoin Maximalists or Cryptocoiners, our Wallet Altana, elaborated on the open-source version of GreenBits is physiologically predisposed to support in the future also the use of this innovative technology (as previously happened with the adoption of SegWit).Click to read the article..