Blockstream launches securities platform on Liquid Network sidechain
According to a CoinDesk report, Bitcoin startup Blockstream is all set to launch a platform that would allow users to launch their own tokens on top of its Liquid Network sidechain. The announcement to this effect was made at the CoinDesk’s Consensus conference 2019. The report further goes on to add that the Liquid Securities platform is the first product the company has launched over its Liquid Network sidechain, which is a network tied to the Bitcoin blockchain that has better speed, better privacy and facilitates better transactions.
“Businesses around the world are racing to take advantage of the tokenization of securities,” Blockstream CSO Samson Mow said in a statement.
“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 with no engineering experience required,” he added.
A number of partners are already lining up to launch their tokens and it includes BnkToThefuture, TokenSoft, Zenus Bank, and Pixelmatic.
It’s quite possible that you might be thinking that you have to be a coder to launch a token, but it’s not true. The Liquid Securities platform will provide a web interface on which businesses can issue tokens and monitor them and they will all be enforced by Bitcoin’s multi-signature smart contracts.
In an interesting development earlier this year, Blockstream co-founder Luke DashJr. has proposed that the block size of Bitcoin should be temporarily reduced to 300kb from the current size of 1 Mb. But already the proposal caused a stir in the crypto community with experts arguing that it would have a negative impact on the already slow network and the move would mean a smaller number of transactions on the network.
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