Bitcoin’s First Sidechain is Blockstream’s ‘Liquid’

On October 13, Blockstream announced its first sidechain project: Liquid. The first production sidechain is a platform that will allow rapid liquidity between Bitcoin exchanges and brokers. Five services collaborated with Blockstream’s developers, Bitfinex, BTCC, Kraken, Unocoin, and Xapo will operate the private chain together sharing order books. Liquid will provide processors reduced accounting time within trading to produce a more fluid exchange arrangement.

Founding member and Chief Instigator, Austin Hill states:

“As a Bitcoin-centric company, we are excited to be delivering a real-world solution that moves the ecosystem forward.”

Blockstream Founding member and Chief Instigator, Austin Hill

It’s been nearly a year since Blockstream released its white paper “Enabling Blockchain Innovations with Pegged Sidechains” and it looks as though the startup is finally making sidechains a reality. Sidechains are separate blockchains that are interoperable with each other and can add additional properties to the Bitcoin network. These distinct and separate chains act as vessels that can allow solutions to problems like block intervals, transaction structure, and security.

For quite some time, many in the community have viewed sidechains as Read more ... source: TheBitcoinNews