It is a totally transparent federated network that you can be part of, 1 btc = 1 l-btc. No scam is possible.
Adam Back is the creator.
It has been underestimated because it was not necessary, now I think it is.
Discussion
What's about Rootstock? I did not heard of them from a long time! And the other one...?!? RIF If I don't remember bad ?!?
Liquid network is a mature solution supported by many exchanges, also the transactions are confidential, I don't see any other alternative, it is also very important that it is supported by a hardware wallet.
Looks like a network of IOU. That’s why most bitcoiners don’t give a shit. At least lightning channels can be closed without functioning of any “members” “boards” “governance” that are mentioned in Liquid network. A L2 needs to be native.
But you are ignoring the security of cold storage, with liquid network it is possible with Lightning it is not.
In addition, the rates for large quantities are higher in Lightning Network.
By building a reserve of course anything can be transferred instantly because it is just IOU. Why not build a robust gold reserve foundation and get back to gold standard? Liquid network doesn’t have to be bitcoin it can be anything. I see it as a more reliable reserve system. Bitcoin doesn’t need reserve.