Blockstream’s Liquid Community Faces Delay in Processing as Transactions Start to Stack Up

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Liquid, a sidechain-based settlement community operated by bitcoin infrastructure agency Blockstream, is at the moment going through points processing transactions.

The community’s mempool – a chamber the place all legitimate transactions wait to be confirmed by the Bitcoin community – is starting to fill as every transaction awaits processing. The final transaction occurred over 4 hours in the past, in response to Liquid’s webpage.

Liquid stated it was conscious of a problem on its community that associated to “block signing” associated to a latest “functionary improve,” in response to a tweet late Monday.

Block signing is a sort of digital signature used to confirm the authenticity of transactions on a given blockchain.

Whereas not almost as fashionable as different non-bitcoin platforms, 3,291 Liquid Bitcoin (L-BTC) are at the moment in circulation which sees roughly 500 transactions processed on the community every day, in response to Liquid’s net web page.

L-BTC is an asset that claims to be verifiably backed 1-to-1 with bitcoin held by the Liquid Federation on the Bitcoin mainchain.

The Liquid community first launched in 2018 after three years within the making and, on the time, touted the potential to hold massive volumes of transactions at a better velocity for a number of of bitcoin’s largest corporations.

Learn extra: Blockstream Raises $210M, Acquires Mining Chip Producer Spondoolies



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