Blockstream to Implement Lightning in Liquid Sidechain

Adam Beck, the CEO of Blockstream believes that now networks of different levels can interact with each other efficiently and seamlessly for users
04 July 2019   1510

The developer of Blockstream, under the name of grubles, told in his blog that users of the Liquid Sidebar could open the Lightning Network payment channels using c-lightning implementation.

This makes it possible to conduct quick and private transactions with the Liquid-BTC asset (L-BTC). In the future, the developer notes, this function, along with Confidential Transactions, will work with all assets of the Liquid network through payment channels Lightning Network.

According to Adam Beck, the CEO and co-founder of Blockstream, now, thanks to new developments, networks of different levels can interact with each other efficiently and seamlessly for users.

Liquid is a federated sidecoin of Bitcoin, functioning as a settlement and payment network for cryptocurrency exchanges, market makers, brokers and other financial institutions.

Lightning Network (LN) is a payment protocol that allows for low-cost and instantaneous transactions, which is also a solution to the problem of Bitcoin scalability. According to 1ML, currently 8944 LN nodes are in operation, interconnected by 34,291 payment channels.

Authorities to Study Bankrupt QuadrigaCX

Canada Revenue Agency sent a request for access to the tax info from Oct. 1 2015 to Sep. 30, 2018
18 September 2019   43

The Canadian Revenue Agency (CRA) intends to examine corporate declarations that ceased to exist as a result of the bankruptcy of the QuadrigaCX bitcoin exchange, The Globe and Mail reports.

CRA sent a request for access to the tax reporting of the exchange from October 1, 2015 to September 30, 2018, that is, on the date when QuadrigaCX tentatively began problems with the withdrawal of funds.

The E&Y auditor, acting as the trustee of the exchange, intends to discuss the tax request and obtain permission from the court to disclose information.

At the same time, the company noted that one way or another they are forced to comply with the CRA requirements, although this will take a lot of time and delay the payment of compensation to victims.

At the beginning of the year it became known that QuadrigaCX lost access to user funds by $ 190 million, and somewhat later, Indian authorities confirmed the death of the founder of the exchange, Gerald Cotten.