Ethereum aim is to support as many users as it can, like any other public blockchain. The problem is that, today, we don’t really know the limits of the platform because of a hard-coded limit on computation per block.
Making it not a secret that scalability is a major problem in the blockchain world. The problem of scalability has been provided with solutions, of which one of the highly suggested solution is to implement an off-chain payment channel.
Yes, off-chain payment channels help avoid blockchain’s processing restrictions but yet users still need to keep substantial deposits locked up, payment channel rebalancing is limited to on-chain transactions and the construction of complex routing structures as required by off-chain payment channels has not been made available. The Off-chain payment channel is still faced with several limitations.
Liquidity Network basically wants to solve these problems by creating a better off-chain payment channel.
Liquidity Network is an off-chain scaling solution for existing blockchains. Being the first off-chain payment solution to initiate an MVP that provides bidirectional payments, the liquidity network will revolutionizes the way people trade and interact by enabling zero fee, instant and secure payments.
The Liquidity Network is set to bring a paypal-like Blockchain payment to the masses. Liquidity Network creating a better Off-Chain payment channel makes it stands out amongst other Off-Chain solutions.
Here is a video giving quick overview of the Liquidity Network:
This is one of the initial application of Liquidity Network Technology. Being a non-custodial off-chain exchange build on top of the Liquidity Network, It designed to not hold any funds (non-custodial), while performing atomic swaps off-chain.
This congestion free and excessive transaction Liquidity exchange created by this Liquidity Network will leverage the benefits of centralized computational power and the decentralized nature of blockchain.
The comparison below depicts features difference between commonly used exchanges and how the Liquidity Network Exchange brought together the best parts of centralized and decentralized exchange to give users an amazing feel during exchanges.
The Liquidity Network architecture comes from a relationship between two platforms created by the team, which includes;
• Liquidity Hub No-CUST and
• The Revive
Liquidity Network’s platform revolves around interconnected hubs. So if a user joins the Hub he/she can transact his/her funds with any member of the Hub, instantly, offchain, and a lower cost than regular on-chain transactions.
This will thereby solve the problem of off-chain payment channels requiring collateral to be locked up
Multiple hubs can also be Interconnected. With a slight difference from the traditional payment, two users of different payment hubs are eligible to perform off-chain payments across different interconnected payment hubs.
The Liquidity Network No-CUST hub is Decentralized due to the following reasons;
The Liquidity Network will offer Blockchain a much more greater scalability by using the REVIVE protocol. As an algorithm that enables different hubs to rebalance their payment channels off-chain, degradation of payment channels is avoided without costly on-chain transactions.
This thereby solving the problem of Existing Payment Channels Not being Refilled Off-Chain.
You could also learn more about Liquidity's architecture in depth from their Stanford BPASE Talk:
The Liquidity Network has both a Mobile and Web wallet as show below
This wallet is available to both Android and iOS users.
Liquidity Network Wallet - IOS
Liquidity Network Wallet - Android
Airdrops being a popular community building tool, is one of the game changing use cases of Liquidity. Airdrop will no longer have to go through a custodian (Airdrop provider), who issue users their private keys and make millions of on-chain transactions, expensive, slow, and not scalable.
Knowing that the Liquidity Network boycotts the use of custodians, have no transaction fee and processes transaction much more faster, millions of tokens can now be sent whilst allowing recipients to forward their tokens to their friends and family free of charge.
Mrs Adele decides to go on shopping out of her busy schedules during the week. She concluded shopping at her favorite mall which does accept cryptos. On getting there, there was a case of slow transaction using other exchanges to transfer bitcoins to the Mall's wallet.
Mrs Adele having been enlightened by the sales rep in the mall during her previous shopping encounter, already knew about the Liquidity Network and so she wasn't even bothered. It got to her turn and transaction were so easy and swift.
This Network was created by a team of founding members with 5+ years of full-time blockchain experience. With team members having expertise in computer science, security, mathematics, and formal methods.
This is an originalworks contest for more information click here
For more information check out Liquidity Network website
Twitter- https://mobile.twitter.com/dahtDude_Ruona/status/1083131821544652801
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