Blockchain Infrastructure Firm Blockstream Launches ‘Liquid,’ a Bitcoin Sidechain for Security Tokens
Blockchain infrastructure company Blockstream unveiled its safety token platform. Called Liquid, the sidechain is entirely for security tokens. At this year’s Consensus Conference, Blockstream issued a significant update.
Being one among the first Bitcoin startup companies, the firm announced it would release a product over its Liquid Network sidechain.
The sidechain was intended for quicker coin transactions and built-in secrecy However, the sidechain will now comprise of a security tokens platform.
The latest Liquid Securities platform is a facility for companies to issue security tokens on the Liquid Network.
Blockstream Chief Security Officer Samson Mow says that while companies are prepared to issue tokenized bonds, platforms like Ethereum are not the wisest course of action due to their scalability, privacy and dependability constraints. Blockstream argues its platform is better for such purpose:
“Unfortunately, blockchain platforms like ethereum are failing them due to issues with scaling, privacy, and reliability. […] Now, with the launch of Liquid Securities, businesses can quickly issue Liquid-based security tokens with the click of a button,and establish sophisticated rulesets to conform with their regulatory requirements…”
Some security tokens have signed up to release their tokens on the Liquid platform. These include Zenus Bank, BnkToTheFuture, TokenSoft, and Pixelmatic. The Liquid platform will have a web gateway through which companies can quickly issue and track tokens. The platform enables creation of a token that has built-in compliance features. The platform is supposedly launched with four associates:
BnkToTheFuture investment platform, US-based Zenus Bank, and Pixelmatic, a game design studio. The announcement describes that Liquid Network is a payment network linking cryptocurrency exchanges, market makers brokers, and other financial organizations. In March, Blockstream unveiled a unique Bitcoin (BTC) scalability tool, c-lightning. It included efficiency improvements, security updates and increased privacy.