Liquidity Ecosystem - Network and Exchange
Despite their potential, existing blockchains such as Bitcoin and Ethereum can only process ten’s of transactions per second - comparable mainstream payment systems process over thousand transactions per second. Off-chain payment channels have been proposed to substantially increase the blockchain’s transaction processing capabilities.
Typical off-chain channels, however, face several limitations: they are economically broken due to substantial rigid deposits, expensive channel establishment, no offchain payment channel rebalancing, complex routing structures, etc.
The Liquidity.Network is a non-custodial, blockchain settlement system supporting off-chain payments (e.g. Ether/ERC20).
The Liquidity.Network is operational under https://wallet.liquidity.network and supports millions of users securely, reducing transaction costs significantly and enabling the mainstream adoption of blockchain. Liquidity is trustless, does not require rigid funds to be locked up, supports off-chain rebalancing, easy routing and free channel establishment.
The Liquidity Ecosystem stems from a symbiosis between our two novel innovations: the Liquidity Hub and REVIVE.
The Liquidity.Exchange is a non-custodial off-chain exchange.
The Liquidity.Exchange is designed to not hold any funds (non-custodial), while performing atomic swaps off-chain. As such the exchange is resistant to blockchain congestion and excessive transaction fees. Scalable to centralized exchange throughput and beyond.
Rebalancing payment channels securely off-chain, applies to the hubs.
With REVIVE, we present the first solution that allows an arbitrary set of users in a payment channel network to securely rebalance their channels, according to the preferences of the channel owners. Except in the case of disputes (similar to conventional payment channels), our solution does not require onchain transactions and therefore increases the scalability of existing blockchains. In our security analysis, we show that an honest participant cannot lose any of its funds while rebalancing.
REVIVE is integral part of the Liquidity.Network and allows different hubs to rebalance their respective balances.
REVIVE has been published in a Tier 1 Academic IT-Security conference (CCS’17).
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