Proof of stake is another consensus protocol that has been used on multiple
block chains for quite some time now, there was a proposal on the Bitcoin-dev
mailing list to attach proof of stake sidechains to the original Bitcoin
blockchain. This allows for the development of decentralized networks which aim
to manage reserves of Bitcoin, using custom application code and smart
contracts that use Bitcoin as the native currency.
Feed for tag: sidechain
Liquid is a sidechain running on top of Bitcoin, enabling individuals and business to transact Bitcoin faster and with more features than the original Blockchain, it was created by Blockstream and was recently launched with the cooperation of 23 of the industry’s biggest exchanges including Bitfinex, Bitmex and others.
Blockchains and Sidechains
Bitcoin in its original, unmodified state has enormous utility. When it was created, the original designer(s) could not account for everything that would transpire after its launch. There are many aspects of the software that are final and unalterable. The consequences of final variables of Bitcoin results in a hard forks. In the occurance of a hard fork, the nodes running modified software sacrifice their ability to interact with the nodes running the original software. The altered nodes begin creating blocks differently and within six blocks there are two block chains - the original and the forked chain.
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.