Liquid will launch in the first quarter of 2018

New sidechain solutioin will help to speed-up the transactions between exchanges
03 July 2017   1784
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.

DFINITY to Postpone Internet Computer Launch

The project is currently assessing the time frame for the completion of the MVP
14 December 2018   67

The blockchain project Dfinity reported in its blog postponing the launch of its main product.

Previously, Dfinity chief scientist Dominic Williams said that his company intends to create an “Internet computer that will become cloud 3.0”, compete with Google Cloud and Microsoft Azure, and also change the face of the blockchain industry.

According to him, the project team is developing a technology that has 150 higher performance than Ethereum blockchain and 900 times - Bitcoin. In essence, the project creates a “giant Internet computer”, whose work will be supported not by one company, but by all participants of the Dfinity protocol.

Initially, the release of a minimum viable product (MVP) was planned for the first quarter of 2019. However, according to company representatives, working on a trimmed version may slow down progress in creating a complete product.

The project is currently assessing the time frame for the completion of the MVP. Also, noted in Dfinity, before the end of the first quarter a new set of development tools (SDK) will be released, which will shed light on the future plans of the company.

In August, the Dfinity Foundation attracted $ 102 million of investments in the framework of a closed tokensale. Prior to this, at the beginning of the year, the Dfinity Foundation raised $ 61 million from Andreessen Horowitz and Polychain Capital.