Today we’re launching Liquid.net, a one-stop-shop for Liquid Network information and statistics. Liquid.net is designed to provide detailed metrics and statistics for those using the Liquid Network, as well as new parties interested in joining.
The first thing users will see on arrival is some of the headline metrics of the Liquid Network such as the amount of Liquid Bitcoin (L-BTC) available on the network, transactions per day, the number of Issued Assets registered on Blockstream’s registry, and general figures on the health of the network.
It should be highlighted that we’d love to show more information, but due to Liquid’s Confidential Transaction technology, we can’t! Neither Blockstream nor federation members can see the amounts or asset types in confidential transactions recorded on the sidechain.
Liquid.net also provides the latest list of federation members, which going forward will be kept up to date based on the latest additions and removals directed by the new Liquid Membership Board (see below).
In October 2019, we hosted the inaugural Liquid Federation Meeting in Tokyo with over 40 Liquid member representatives attending. This meeting was a key turning point as we laid out a governance structure for the Liquid Network.
Liquid Federation Meeting in October 2019, Tokyo
We’re now finally ready to announce the establishment of Liquid’s three governing boards: the Oversight Board, Technology Board, and Membership Board. Following elections in November, we now have all board seats filled out for the coming term.
The primary function of the Oversight Board is to recommend internal rules and processes for board structure, and generally oversee the Liquid Network’s status. This board will maintain and amend the governance structure as needed, such as defining the number of members per board, overseeing the election process, and handling interim appointments if necessary.
The primary function of the Technology Board is to work with Blockstream to develop technical roadmap based on members’ needs. Originally, the Liquid technology roadmap was driven by Blockstream and focused on features required to keep the network running smoothly. With the Liquid Network becoming more mature, it makes sense to focus more on the business needs of the federation members to drive technology development, such as tooling for Proof of Reserves or trust-minimized trading.
The primary function of the Membership Board is to develop criteria for membership approval and provide recommendations for membership inclusion or removal. With our update to enable Dynamic Federations (DynaFed) in Liquid coming soon, and an expected influx of new members, it was a good time to transition this responsibility to the Membership Board.
In the early stages of the Liquid Network, Blockstream played a large role in vetting members and driving the technology roadmap. With the establishment of these three boards, we’ve now shifted management responsibilities to the federation members and Blockstream will take the role of technology and service provider.
Anyone can get started with the Liquid Network by downloading a Liquid wallet Blockstream Green, or a Liquid full node Elements Core. For traders, there are already a number of exchanges live with Liquid, including Bitfinex, BTSE, Coinut, Sideshift AI, The Rock Trading, and more on the way.
If your company is interested in becoming a Liquid member, let the Membership Board know by completing the form linked here.
We’re very excited with the progress we’ve made in 2019 and for what is to come in 2020. Blockstream is still very much invested in the success of the Liquid Network, and we look forward to working with the Liquid board members to keep on growing the network and increasing adoption!