The blockchain technology had seen unstoppable growth these past years. Though it hasn't fully realized its dream of mass adoption, the technology's growth remained unhindered.
Thousands of Dapps and hundreds of platforms have cropped out that uses the technology of the blockchain. Its decentralized nature has charmed countless people tired of the centralized nature of the real world flocks towards it.
Nowadays, it's not uncommon to see the technology being used in different facest of society like finance.
The Liquidity Network
The Liquidity Network is an Ethereum based platform that aims to support millions of blockchain users around the globe. Its main goal is the mass adoption of the blockchain technology by creating a platform that's easy to use, secure, scalable, Off-chain, blockchain congestion free and with zero-fee transactions.
The Liquidity Network is a non-custodial, financial intermediary that offers payment and exchange service. It has two main components called the Liquidity Hub NO-CUST and REVIVE.
Liquidity Network Non-Custodial Off-Chain Exchange
The Liquidity Exchange is one of the Liquidity Network's initial applications. It offers the users the ability to trade with cryptocurrencies like other exchanges. But unlike other exchanges, the Liquidity Exchange does not hold custody of its users' finances, hence why it is called a Non-custodial(NO-CUST) Off-chain exchange.
As such the Liquidity Exchange does not suffer the same problems that plague most exchanges nowadays like congestion. Basically, the liquidity Exchange is very resilient to blockchain congestion as it can handle more than 10,000 transactions per second (tps). It also does not run some mining front end that some exchanges do. What's more, the Liquidity Exchange is unaffected by the excessive blockchain transaction fees that seemed to plague most exchanges.
Scalable, secure and cheap, the Liquidity Exchange is one of the best and trustworthy exchange out there.
- REVIVE
REVIVE is an integral part of the Liquidity Network that allows users to rebalance their channels hubs off-chain depending on the channel owners preference. REVIVE uses an algorithm that enables these users to securely rebalance their hubs without the fear of losing funds.
Advantages of the Liquidity Network
The Liquidity Network offers advantages that make it one of the best platform on the blockchain. These advantages include but not limited to:
- Enabling Micro-payments and Small Value Transfer (SVT).
Though some platforms and exchanges also allowed Micro-payments and Small Value Transfer, they usually charge exorbitant fees. The Liquidity Network on the other hand have a fee that makes it almost negligible.
- Instant Payment and Exchange
Unlike other platform and exchanges, the Liquidity Network have no waiting time for sending and exchanging cryptocurrencies. All its transactions are instantaneous.
- No Rigid Locked Fund
Majority of the platform on the blockchain has rigid locked fund policy that makes using the users said fund difficult. But this does not apply to the Liquidity Network, all allocated funds can be freely used to pay or transact any member of the platform.
- Simplicity
One of the reasons why some blockchain-based platform is not that popular is because of how complicated they looked. The Liquidity Network values mainstream adoption and therefore designed the platform to be simplistic in both form and functions.
- Transparency
Besides being easy to use and secure, a platform that deals with finances must also be transparent. It's a users' right to know how their funds are used. The Liquidity Network takes transparency very seriously and all their actions are auditable.
- Privacy
In any business that deals with finances, the clients' privacy must be respected and protected. Therefore, a rigid privacy policy must be enforced. The Liquidity Network have such policy, as such the platform's users can be at ease.
- Security
Hacking attacks and scams littered the internet, and the blockchain's no exception. Therefore, it is of utmost importance that a platform possessed ways to combat these threats. And the Liquidity Network exactly have that.
- No Custodian
The Liquidity Network prides itself with its no custodian policy. As such funds used for payments and exchanges are owned by the users at any point.
- Flexible Fess
Majority of the platform on the blockchain has set fees for their transactions which is a hassle to both senders and recipients. Users of the Liquidity Network on the other hand can enjoy flexible fees offered by the platform.
- Generic
Being an Ethereum-based platform, the Liquidity Network is easily portable to any smart contract on the blockchain.
- Peer-Reviewed Research
The team behind the Liquidity Network takes their work very seriously, and have researched papers that were published and reviewed by the biggest academic IT Security conference (CCS 2017).
Conclusion
The Liquidity Network is an amazing platform that promises its users great advantages that were not present in other blockchain based platform. Though still on its early stage, one can already see its potential uses and value. And if the team behind the project live up to their promises then Liquidity Network have the potential to be one of the biggest platforms on the blockchain.
Additional Information and Resources
This article is my entry to @originalworks writting contest featuring the Liquidity Network Website.
Contest Link: https://steemit.com/@originalworks/2500-steem-sponsored-writing-contest-liquidity-network
My Twitter Link: https://twitter.com/VRiovanes
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