Blockstream Introduces Its First Bitcoin Sidechain Termed Liquid Network To Enable Faster And Secure Payment Method

One of the top global leaders in blockchain technology and financial cryptocurrency, Blockstream has announced the launch of Liquid Network. Known as the planet’s first Bitcoin sidechain, it offers fast, secure and confidential payment process, which is very much required in today’s time when the industry is full of crypto malware.

During the launch of Liquid blockchain (which went live with the first block on September 27 this year), 23 top-notch players in the cryptocurrency industry participated as Liquid members. Some of the companies are Bitfinex, Altonomy, Bitso, Crypto Garage, Atlantic Financial, BitMEX, BTSE, Coinone, Bitbank, Korbit, BTCBOX, L2B Global, SIX Digital Exchange, Zaif, OKCoin, GOPAX (run by Streami), DGroup, The Rock Trading, Xapo, Bull Exchange, Bitmax, Bitso, Unocoin and XBTO. These members together not only comprise Blockstream’s Liquid Network, the association further guarantees the users’ assets are totally secured through a geographically diverse network with no flaws.

As a groundbreaking sidechain built on Bitcoin network, Blockstream’s Liquid facilitates faster Bitcoin payment methods and transactions enabling extended functionality. It took lots of time for the company to take Liquid from concept to commercial product.

“While still at BTCC, I was one of the first supporters of Liquid because I saw the potential of the network and technology for the cryptocurrency industry. It’s exciting to see the Liquid team deliver on that promise,” Chief Strategy Officer of Blockstream and ex COO at Bitcoin exchange BTCC, Samson Mow opined, a press release aired by Sys-con.com reported. Mow further added that now the company aims to build the Liquid Network ecosystem with more mobile wallets, integrations including next-generation functionary hardware.

Apart from the enhancement to Bitcoin’s functionality, Blockstream’s Liquid Network’s inauguration marks the beginning of a new era of digital asset issuance and making payment method by enabling the tokenization of gold, fiat, securities and other crypto assets, keeping Bitcoin at the center, Blockstream’s own website clarified.

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