Liquid Exchange is one of the first exchanges to adopt and embrace MPC technology in a live setting

By hsotaka | Liquid and Qash | 29 Aug 2019


According to a official blog post of Liquid, published today, withdrawal times of major coins and tokens got a huge improvement.
(https://blog.liquid.com/updates-to-our-cold-wallet-storage-policy)


Like I stated in my Liquid Exchange Review
(https://www.publish0x.com/liquid-and-qash/why-liquid-exchange-worth-try-xmykwx?a=N1aM9RmaWm),
one of the biggest disadvantage of Liquid Exchange are their withdrawal times.

Liquid has a impressive security policy (https://www.liquid.com/security/).
They are using a multi signature cold wallet for 100% of user funds to protect them against hacks and also internal corruption.

Multi signature means, there are a small number of highly trusted user, which have a part of the key to access user funds.
Its not possible to access a wallet with a single one, so there always have to be two or three trusted people to access the cold wallet.

Because of this strict security rules, Liquid was forced to process crypto withdrawals manually one or two times a day.
A lot of people complained about the withdrawal times. Waiting several hours for a withdrawal is unacceptable.

Well... we're in the crypto space where everything is about cheap and fast transactions, so I can understand those people.

That's why I'm glad that Liquid was able to implement a technology that significantly reduces withdrawal times, without compromising security of user's funds.


"Multi Parting Computing (MPC)" allows them to process withdrawals multiple times per hours, even on weekend.

According to the article, Liquids Exchange is one of the first exchanges in the world to adopt and embrace MPC technology in a live setting.

 

If you liked my article and decided to sign up on Liquid, i would be so thankful if you use my ref link :) 
https://www.liquid.com?affiliate=Rqror1Gv576954 

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hsotaka
hsotaka

Crypto enthusiast and investor since 2016.


Liquid and Qash
Liquid and Qash

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