Liquid will launch in the first quarter of 2018

New sidechain solutioin will help to speed-up the transactions between exchanges
03 July 2017   756
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Commercial application, based on the sidechain technology Liquid from Blockstream will be launched in the first quarter of 2018. This is reported by BraveNewCoin.

Sidechain Liquid was working in the test mode since the end of the 2015. It was launched in beta mode in May 2017. Technology is designed for bitcoin-exchanges, processing services and traders by reducing the time of transactions between the accounts. 

Bitcoin

First decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

Despite the fact that Liquid is a private blockchain, it is built over bitcoin's blockchain and allows to reduce the time of transaction between exchanges to few seconds. 

The Liquid network consists of a federation of operators, or functionaries. These network operators mechanically execute defined operations if specific conditions are met. Functionaries have the power to control the transfer of assets between blockchains and to enforce the consensus rules of the sidechain.

As Ben Gorlick, Blockstream Director of Product mentioned, Liquid version 1.0 will support up to 15 functionaries. Each will be placed in different exchanges. Additionally, few functionaries can be turned off without any harm for a system. And even if all of them "falls", there are a lot of ways to guarantee the security of client's funds.

Blockstream crew also mention that Liquid launch will depend on SegWit protocol activation. Possible side-effect is an indirect decrease in Bitcoin’s existing traffic

Nevertheless, as the developers insist, the technology will facilitate the processes of trading, arbitrage and liquidity provision.

As Gorlick assures, Liquid will help with scaling of the network by reducing the pressure on the bitcoin's blockchain.

Thus, the main innovative solution is the wallet that users can use to safely store bitcoins outside the exchanges. In this case, they have the opportunity to quickly move coins, when there is such a need.

Over the past few months Liquid has been already tested by several well-known exchanges, including Bitfinex, BTCC, Kraken, Unocoin and Xapo.

UCLA Blockchain Crypto Conference to be Held in LA

The UCLA Conference will be held on February 17-18 of 2018, gathering together the most experienced and exciting thinkers
17 February 2018   174

UCLA's Blockchain Lab and Far from LA are holding the Blockchain Cryptocurrency Conference, gathering together the most experienced and exciting thinkers across SoCal, in order to foster both economic and educational progress. The conference will concern cybersecurity, cryptocurrencies, and blockchain.

The UCLA Conference will be held on February 17-18 of 2018.

Location: The University of California, Humanities Building, 415 Portola Plaza, UCLA 90095, Los Angeles

The headline speakers will include Kathleen Breitman, the co-founder of Tezos; Sandra Ro from UWIN Lab; David Moss from EOS; Jeremy Rubin, the Bitcoin core developer, and many more.

The agenda of the conference is as follows: the future of blockchain keynote, bringing humanity to the blockchain, cybersecurity, autonomous vehicles, blockchain's influence on the development of art and culture, blockchain in the music industry, government adoption of blockchain around the world, and more.