Liquid Network

Liquid Network

By fervi | fervi | 15 Oct 2019

Liquid Network is Blockchain created by Blockstream for exchanges to trade between them. It is worthwhile to bring closer the issue of Liquid Network.

What is the Liquid Network for?

We have different cryptocurrencies, some fast, some slow. Some of them have free transfers, others are paid. However, the exchanges very actively use blockchain to receive and send tokens. Sometimes people send tokens from one exchange to another. It doesn't seem like much, but this type of action costs money in terms of maintaining Blockchain servers.

Liquid Network is a network that is supposed to bind all the exchanges and create fast and cheap transfer points between the exchanges. What can not only increase cryptocurrencies capabilities (relieve them) and lower the cost of payment what also move the load and development to another point (Liquid has implemented Lightning Network).

Is this blockchain safe?

I'm not a fan of the Proof of Authority consensus system. The idea is that specific large companies can generate blocks. It is similar to the Delegated Proof of Stake (Steem, EOS) system, but without a choice of "delegates".

However, it may be difficult to steal from the stock exchange. These are often powerful organizations with millions of dollars, so they are not likely to cheat in this system.

In my opinion, this system is not crypto for the average user (although there is a "Green" wallet supporting L-BTC - Liquid BTC).

Is it revolutionary?

Imagine you're a Bitcoin Cash fan, but the long waiting time for a transaction is terrifying. However, you can use the Lightning network and have instant transactions. In the future, there may be assets all over the network that can be exchanged for cryptocurrency.

Will it work? I don't know, but it's worth observing this project, especially since it is supported by really big companies.



I believe in the future. Bitcoin's Maximalist, amateur programmer, creator of unofficial DAO - IntinteDAO, fan of freedom, decentralization, new technologies.


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