What is Liquidity.Network?
The problem that traditional blockchain networks are facing is one of scalability. Initially, the creators never thought their technology would become as popular and widely-used as it has over the past three years. As a result, they didn’t design their networks to be able to handle so many users, and transactions cost a lot and are far slower than they should be.
Liquidity.Network is a payment and cryptocurrency transfer solution that uses off-chain payment hubs to relieve stress from the blockchain itself. In fact, the blockchain will primarily be used only as a public ledger to resolve any disputes that may arise between parties.
- Off-chain Payment Hubs: Off-chain payments allow two nodes (computers) to communicate directly with each other. This allows them to send and receive funds far quicker than they would be able to on the Bitcoin or Ethereum network. The more users that are on the Liquidity.Network, the faster transactions will be.
- Free Transfers: Because transfers will be far quicker via off-chain payment hubs, transfers can be completely free. The reason why transaction costs have gone up so much on the traditional blockchain is because of the immense power costs required to verify each transaction.
- Blockchain Security: Although Liquidity.Network is focused primarily on off-chain transactions, it will still backup all data and decentralize user information on the Ethereum blockchain. In addition to keeping user information secure, the blockchain will also provide an accurate ledger of past transactions in the case of disputes.
What Issue Does it Solve?
If the blockchain ever wants to see mass adoption and widespread use as a global payment system it needs to overcome the barrier of slow transaction times and high transaction costs. Essentially, blockchain needs to become faster and cheaper than credit card networks. Since Liquidity.Network focuses primarily on off-chain transactions, they can speed up transfers and don’t have to be 100% reliant on how slow the blockchain might be on a given day.
Token Sale Information
- Website: https://liquidity.network/
- Whitepaper: https://liquidity.network/whitepaper_Liquidity_Network.pdf
- Token name: LQD
- Token Sale: June 14th – July 28th 2018
- Accepted payment: ETH
- 1 LQD = $0.61 USD
- Hardcap: To be announced
- Softcap: 15,000,000 LQD
- Banned countries: USA, China, Taiwan, Canada
Disclaimer: All information on this post is made to educate our readers. Don’t invest in any ICO unless you’re confident about its capabilities and do so at your own risk.
- 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
- Network is not the first ICO to introduce off-chain transactions
Liquidity.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.