With mercury layer you don't have to worry about incoming liquidity, the privacy is very high, it's like exchanging cash and the scalability is total, again like exchanging cash, in fact you exchange the private keys outside the chain.
On the other hand the cons is that I understand that it will be a federated system.
What part is federated ? Client side coordination ? Just learning about it now.
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I'm not very clear about the specification, I read somewhere that it would be federated but don't take it into account.
Thanks for being honest and not talking out your ass.
