Liquidity.Network is set to launch a new scalable off-chain payment system which allows Ethereum users to make payments without costly transaction fees. By utilising payment hubs, Liquidity.Network allows multiple users to send cost efficient Ethereum micropayments for the very first time.
Liquidity.Network is the first ever off-chain payment system to have a working MVP that allows its users bi-directional transfers of Ethereum. The project has already been successfully deployed on Ethereum’s Testnet service.
Liquidity.Network’s novel technology allows any member of a payment hub to pay any other member of a payment hub, whilst integrating with REVIVE to allow rebalancing of payments off-chain without the need for costly on-chain refill transactions. 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. This ‘trustless Paypal’ will upgrade the Ethereum network, and have far-reaching implications for the blockchain world as usage grows, enabling a higher number of users to use the Ethereum network without adding to congestion.
Liquidity.Network is a proven non-custodial network which uses the same approval properties as proof of work. Liquidity.Network remains on track to incorporate ERC20 tokens into its offering as early as this month, providing over 500 projects which currently exist on Ethereum the opportunity to expand their scalability and user participation is set to increase rapidly.
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.
Attention. There is a risk that unverified members are not actually members of the team
16-Apr. Alexey: Liquidity Network is an interesting project, we started to research it but we do not have a final verdict on it.30-May. Sergey: KYC is very complicated. Pre-sale was successful, we will watch the project. Link
- MVP is up and running. Customers tasted it and its functional. - Academic core team with background and current affiliation with ETH Zurich. Liquidity.Network will also be an extension of Co-founder, Rami Khalil's project REVIVE, a decentralized protocol for payment channels without on-chain transactions.- At the Conclusion of the ICO Pre-sale partnerships with 4 Venture Capital companies were announced. It appears established investment firms have concluded that Liquidity.Network is a project worth initial investment. - Whitelist is open and they are trying to raise 27 mil$ through Dutch Auction . 5mil$ was already raised in presale.
SummaryLiquidity.Network has an intuitive, if not original, method of scaling the blockchain. Although there have been other companies that have described an off-chain method of reducing transaction costs and speed, Liquidity.Network is the first to put it into action. They have already designed a prototype for use on the Ethereum network, and if it is successful, then they are ready to deploy versions for other popular blockchain networks as well.Positives Actively seeking solutions to solve blockchain’s scalability issue Although the prototype is ready for Ethereum only, in the future Bitcoin, NEO, and others could potentially implement Liquidity.Network They should have a fully-working product by the end of 2018 Negatives Network is not the first ICO to introduce off-chain transactions
Liquidity.Network is a proposed solution to the scaling problem faced by today’s blockchains. Off-chain payment channels have long been proposed as a scaling solution. However, today’s off-chain payment channels suffer from problems like routing complexity. Liquidity.Network solves these problems with simple routing designs. The solution avoids locked funds and other off-chain payment channel problems. Overall, Liquidity.Network’s prototype is ready for implementation in Ethereum Classic. Other possible blockchains for the Liquidity Network include bitcoin, Dfinity, NEO, Nimiq, and Lisk.
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