Jade is the blockstream hardware wallet that supports liquid network.
With liquid network we have almost instantaneous transactions and they are also private.
The advantage over Lightning Network is that they are more private and we have the ability to cold store them in the Jade hardware wallet. When the rates go down we can exchange the L-BTC for BTC on the blockchain.
It's time for sidechains, I see no alternative.
Who keeps the peg of L-BTC to BTC?
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.
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.
Too centralized... if I don't remember bad..
I understand the drama.. If that will be permanent the migration to a second or third layer will be a must for retails. The mainnet will be only for institutionals.😭
It is not centralized, it is federated and you can be part of the federation.
If you are a licensed, regulated business, in an approved jurisdiction, who applies to the federation, discloses private information, is approved and voted in.
So, it's like the current financial system?
Doesn’t L-BTC just mean your actual BTC is now custodied by the “Liquid Federation”… maybe I misunderstand but how is it any better than wBTC and other shitcoin bitcoin derivatives?
Same. This is my understanding too. Same with Fedi and Fedimint.
Almost like a new concept of a bank...
Walled ecosystems of trust.
If I have this right, conceptually.
With a Fedimint any group can create their own trusted custodians. Or everyone involved could be. It's anything you want.
With Liquid it's a bunch of companies that could be shut down by governments. And you have no control over them.
You think blockstream can be shut down just like that
It’s custodial. It’s not trustless. Whoever is in control of your bitcoin, it is not you. I’ve never understood how Liquid is marketed basically as an alternative to Lightning. It’s a shitcoin derivative of bitcoin as far as I can tell.
So "anyone" can exchange their Bitcoin for L-BTC, but only federation/governance "members" can "peg-out" to swap their L-BTC for BTC?
REALLY?!
I think I know who's getting "pegged" in this scenario.
