He proposed Liquidity.Network.
Liquidity.Network is anoff-chain payment platform which permits users to transact Ethereum instantly and without gas fees..An off chain transaction is the one that is not completed on the blockchain but via an out-of-band web connection. This enables Liquidity Network to avoid increasing the congestion already seen on popular blockchains, whilst still getting the transactions anchored by the Blockchain.
Their suggested solution includes some interconnected payment hubs, addressing the existing issues facing two party payment route providers like Raiden ang Lightning Network. Through the use of payment hubs, the network can accommodate an incredible number of users and invite those users to all or any interact with each other with the allocated money while significantly minimizing business deal costs, allowing micro payments and increasing the transparency of using cryptocurrency on the market without locking up user's security.
The Liquidity network has designed convenience to their solution by steering clear of complicated routing requirements. With no complexity, their system also allows instant obligations and exchanges without holding out time. Answers to these problems have always been in desperate dependence on blockchain programs. These new alternatives will definitely take Ethereum and blockchain technology all together to another level.
Fast and effective cryptocurrency obligations is obviously an important requirement of blockchain to move out to the mainstream, nevertheless the current process isn't self-explanatory, especially on mobile.
To be able to beat this, Liquidity.Network launched their mobile iphone app at the recent EDCON in Toronto. Whilst presently in an exclusive invite-only beta level, the mobile iphone app guarantees to make transacting blockchain payments as easy as mailing a text. With the key net established to kick off in June, you will be mailing instant crypto obligations on mobile on your commute to work earlier than we're able to have expected. To encourage users to become listed on, the platform does not have any joining fees and it is absolve to use for regular users. Exchange fees are versatile and can be paid by the sender or the device.
The network also offers plans to unveiling a decentralized exchange in Q3 2018 which allows off-chain exchanges of crypto, that is really as as fast as centralized exchanges, such as Kraken, but crucially will not hold your money.
The race to repair the blockchain scalability concern is well and truly warming up, Lightning Network, the most widely known way to Bitcoin's scaling issues has come under fireplace lately with Dr. Emin Gun Sirer saying that Lightning Network was "economically shattered" in a setback for Bitcoin's well known scaling solution. Which technology eventually solves the challenge will open recently closed entry doors to blockchain technology that is thrilling and gets the potential to improve the earth as we realize it.
That said, the uptake of blockchain technology is merely as effectual as the tools that exist that permit blockchain to grow in reach and user friendliness. A very important factor is for several, the scalability concern must be resolved and an offchain program like Liquidity.Network gets the potential to be the perfect solution is. It's no question that Vitalik Buterin is very happy.