Instant Transactions, Millions of Users Liquidity.Network is the first ever off-chain payment system to have a working MVP that allows its users bi-directional transfers of Ethereum.
While the Lightning and Raiden networks also address the same problem using off-chain solutions, the Liquidity team believe their technology is superior. A non-custodial off-chain exchange is also planned for the third quarter. Initially, the Liquidity.Network will support the Ethereum Blockchain, but support for more blockchains like Bitcoin, Dfinity, NEO, Nimiq and others will likely follow. Moreover, two payment channels can be connected to each other, creating a payment channel network.
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- In near future, it will be only compatible with EVM blockchains
- The token does not have very strong incentive for the investor
The recipient can forward the off-chain Ether or choose to withdraw the Liquid Ether, to create on-chain Ether.
By utilising payment hubs, Liquidity.Network allows multiple users to send cost efficient Ethereum micropayments for the very first time. Liquidity.Network is scalable to multi millions of users, and does not require rigid funds to be locked up. 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. Liquidity is trustless, does not require rigid funds to be locked up, supports off-chain rebalancing, easy routing, and free channel establishment.
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Off-chain payment channels have been proposed to substantially increase the blockchain’s transaction processing capabilities.
In an exciting move, Liquidity plans to launch the Liquidity DEX decentralized exchange by Q3 2018 which is set to become the very first non-custodial off-chain blockchain exchange. By using the REVIVE protocol, Liquidity.Network offers Blockchain greater scalability – payment channels aren’t degraded by rebalancing with costly on-chain transactions. The Token allows the holder to participate in the Liquidity Network – it is an access Token to pay for auxiliary services (e.g. Raiden Network was introduced as a method to relieve the Ethereum blockchain traffic.
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Also offers instant and off-chain channel establishment, as already operational under https://wallet.liquidity.network.
Payment channels in Raiden, however, require the opening of new smart contracts on the Ethereum blockchain. 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. 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. The Liquidity Ecosystem is currently implemented for Ethereum and enables millions of users and payment processors to exchange crypto.
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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.
LiquidChain GmbH plans to operate several Liquidity.Network hubs on top of the Ethereum blockchain building the foundation for instant and cheap transmission of crypto. To learn more about Liquidity.Network and its breakthrough off-chain blockchain payment system, visit https://liquidity.network . It is therefore ambiguous that the Blockchain will be freed from congestion as Raiden Network grows. The project has already been successfully deployed on Ethereum’s Testnet service and has reached more advanced stages of development in comparison to its competitors, such as Raiden Network.
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Liquidity network tries to deliver off-chain payment channels – similar to what Lightning Network or Raiden is doing – but better as explained earlier.
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 need to lock rigid funds as collateral for opening a payment channel is eliminated. 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. Unlike other off-chain networks, the Liquidity.Network implements a unique n-party payment hub protocol. Built on an Ethereum virtual machine, the Liquidity.Network aims to enable the mainstream adoption of blockchain in micropayments.