Liquidity.Network set to bring PayPal-like blockchain payments to the masses
Liquidity.Network is set to launch a new scalable off-chain payment system allowing Ethereum users to make payments without transaction fees. By utilizing payment hubs, Liquidity.Network allows multiple users to send cost efficient Ethereum micropayments. The Liquidity team will also be launching a mobile-friendly app, which will make it more convenient than ever to carry out blockchain payments in everyday life.
Liquidity.Network allows its users bi-directional transfers of Ethereum. The project has already been successfully deployed on Ethereum’s Testnet service and has reached more advanced stages of development in comparison to its competitors, such as Raiden Network.
In a move to encourage mainstream adoption, Liquidity.Network has no joining fees and is free to use for regular users, with only merchants paying transaction fees. Similarly to Paypal, Liquidity.Network allow those fees to be paid by the sender or the recipient. It is also targeting the airdrop market.
Liquidity.Network’s technology allows any member of a payment hub to pay any other member of a payment hub, whilst integrating with REVIVE to allow rebalancing of payments off-chain without the need for onchain refill transactions. By utilizing off-chain payments, the network allows users to transfer their funds instantly with an enhanced level of privacy that is secured by the blockchain.
Liquidity plans to launch the Liquidity DEX decentralized exchange by Q3 2018 which is set to become the very first non-custodial off-chain blockchain exchange.
A number of VC funds are already backing Liquidity.Network, such as DHVC, zk Capital, ZMT Capital and YouBi Capital. Liquidity.Network has already secured one of the first payment network customers with Hive Power, and the two companies will be collaborating to bring blockchain payment methods to the domestic energy industry.
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