Transaction times became significantly slower and users incentivised miners to process their payment faster in exchange for a higher fee.
Liquidity is trustless, does not require rigid funds to be locked up, supports off-chain rebalancing, easy routing, and free channel establishment. At the same time, the funds are secured by the blockchain, other users can’t steal other user’s allocated funds. Likewise, refunding open payment channels is also being conducted off-chain.
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- Inventor of REVIVE – a decentralized protocol to rebalance payment channels without on-chain transactions.
- He was part-time Security Software Engineer for Gnosis
Liquidity network tries to deliver off-chain payment channels – similar to what Lightning Network or Raiden is doing – but better as explained earlier.
The Liquidity.Network team will offer to run an auditing service to its users, in case they wish to have added security against 3rd party hubs. It is operational under https://wallet.liquidity.network and supports millions of users securely, reducing transaction costs significantly and enabling the mainstream adoption of blockchain. Liquidity.Network is scalable to multi millions of users, and does not require rigid funds to be locked up.
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Similar to traditional payment channels, two users of different payment hubs are eligible to perform off-chain payments across different interconnected payment hubs.
Despite their potential, existing blockchains such as Bitcoin and Ethereum can only process ten’s of transactions per second - comparable mainstream payment systems process over thousand transactions per second. The Liquidity.Exchange is designed to not hold any funds (non-custodial) while performing atomic swaps off-chain. The Token allows the holder to participate in the Liquidity Network – it is an access Token to pay for auxiliary services (e.g.
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About Liquidity.Network The Liquidity.Network is a practical blockchain micropayment system, supporting millions of users securely, reducing transaction costs significantly and enabling the mainstream adoption of blockchain.
Liquidity.Network is set to launch a new scalable off-chain payment system which allows Ethereum users to make payments without costly transaction fees. Liquidity is designed such that many hubs can be interconnected in a network of hubs to provide redundancy, similar to a network of Lightning peers. Raiden Network was introduced as a method to relieve the Ethereum blockchain traffic.
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Liquidity.Network is the first ever off-chain payment system to have a working MVP that allows its users bi-directional transfers of Ethereum.
By utilising off-chain payments, the network allows users to transfer their funds instantly with an enhanced level of privacy that is low cost and secured by the blockchain. By utilising payment hubs, Liquidity.Network allows multiple users to send cost efficient Ethereum micropayments for the very first time. To open a payment channel an equal amount of ETH in Raiden, or BTC in the Lightning Network, from each participant must be locked and used as collateral.
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Later this year, the team’s plans include the launch of the first off-chain crypto exchange as well.
Liquidity.Network is a payment and cryptocurrency transfer solution that uses off-chain payment hubs to relieve stress from the blockchain itself. The need to lock rigid funds as collateral for opening a payment channel is eliminated Liquidity.Network is the first off-chain payment solution to initiate an MVP that provides bidirectional payments. Moreover, two payment channels can be connected to each other, creating a payment channel network. Then in Q3 2018 Non-custodian off blockchain exchange will be deployed and 2019 will be dedicated to hardening of the Liqudity network and expanding the ecosystem. For whatever it’s worth :) By utilising payment hubs, Liquidity.Network allows multiple users to send cost efficient Ethereum micropayments for the very first time. Get Weekly ICO Updates Sign up for our newsletter and receive insider ICO news An off-chain payment ecosystem, which is more flexible and efficient than Lightning/Raiden technology. Built on an Ethereum virtual machine, the Liquidity.Network aims to enable the mainstream adoption of blockchain in micropayments. Off-chain payment channels have been proposed to substantially increase the blockchain’s transaction processing capabilities.