The official release of sidechain Bitcoin Liquid from Blockstream

After three years of development, the Liquid Sidechain is ready for commercial use, and this solution will soon be launched by 23 Blockstream partners.

Sidechain Liquid, from the end of 2015 working in a test version, was launched in beta mode in May last year. The technology is intended for servicing Bitcoin exchanges, processing services and traders, reducing the time required to carry out large volumes of transactions between different accounts.

Of The @Blockstream team is excited to announce the #LiquidNetwork is now! Just the live with 23 members! Enables fast the Liquid, the secure, confidential and Transactions, Along with digital is the issuance of asset on the world's first a production #Bitcoin #sidechain . 🔒⛓️🌊 https://t.co/hWkU2bd1ku pic.twitter.com/IBvDIoHCsS

– Blockstream (@Blockstream) 10 October 2018

Despite the fact that Liquid is inherently a private blockchain, it, unlike many self-contained systems, is built on top of the Bitcoin blockchain and helps reduce the time it takes to transfer funds between exchanges to a few seconds.

Now, according to the Blockstream team, the product is ready for mass implementation. The first users of the technology will be 23 cryptocurrency companies, including exchanges, brokers and other organizations, namely: Altonomy, Atlantic Financial, Bitbank, Bitfinex, Bitmax, BitMEX, Bitso, BTCBOX, BTSE, Buull Exchange, DGroup, Coinone, Crypto Garage, GOPAX, Korbit, L2B Global, OKCoin, The Rock Trading, SIX Digital Exchange, Unocoin, Xapo, XBTO and Zaif.

According to CoinMarketCap, these companies account for 50 to 60 percent of the total bitcoin transactions.

“This will support the Bitcoin ecosystem, because you can trade more safely and quickly ,” said Blockstream operations director Samson Moe, stressing that Liquid was ready for commercial use.

In the coming weeks, Blockstream will introduce a Bitcoin wallet specifically designed for Liquid transactions. In addition, belonging to Blockstream purse GreenAddress already support this technology. Also announced the support of Liquid the largest manufacturers of hardware wallets Ledger and Trezor.

"In the future, this will provide an opportunity to carry out daily Bitcoin transactions worth billions of dollars ," added Mou.

Finally, representatives of Blockstream noted that they will continue to work with the operators of stock exchanges and wallets for further promotion and mass introduction of the Liquid technology.

Recall that in July, Blockstream unveiled Issued Assets , a tool for creating custom assets in the sidechain Liquid.

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