Liquid Release Candidate Network Is Ready to Go
Liquid is a sidechain created by block chain company Blockstream, its production release is scheduled for May 2018 and the Liquid Release Candidate Network is a network for the participating exchanges aiming to use Liquid.
Last week, Blockstream launched the Liquid Release Candidate Network for participating Liquid exchanges. This new network marks the conclusion of the Liquid Beta program, and we are on the way to a production release in May 2018. The Liquid Release Candidate Network enables member exchanges to integrate their software with Liquid, to be ready at launch.
Liquid offers these exchanges opportunity of fast, secure and confidential bitcoin transactions through the Liquid sidechain, it works by pegging main chain Bitcoins to the side chain ones and then allowing the exchanges to form pools of Liquidized Bitcoins, so when a user wants to transfer Bitcoins between two participating exchanges he can do that and the Bitcoin will be transacted in under two minutes, as the Liquid sidechain has only 1 minute blocks, compared to Bitcoin’s own 10 minute blocks.
The side chain also has confidential transaction technology that allows people to send Bitcoins without block explorers, or anyone other than the recipient, figuring out how much bitcoin was actually sent, allowing for more privacy and security. Since there is no mining in the sidechain, confirmations depend on “functionaries” to confirm the blocks, which are currently the exchanges running the Liquid software, Liquid functionaries are now also able to support Segregated Witness allowing for much cheaper and complex transactions. And in case if a network failure,
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