LIQUIDITY NETWORK THE Scalable, Instant, Secure, Easy Exchange.
Blockchain can potentially transform businesses, industries, and even economies, following its worldwide implementation. However, there exist significant challenges to blockchain adoption that need to be addressed first.
Blockchain is among the most hyped technologies in the mainstream, right up there with AI and robotics. Although it is true that blockchain can transform businesses, economies, and societies worldwide, the hype surrounding it in the mainstream can make it seem too perfect. The reality is that blockchain is still coming up as technology and there exist a few challenges to blockchain adoption, which need to be addressed before discussing blockchain as a foundational technology for businesses.
Some Challenges to Blockchain Adoption
a. Managing Expectations
Blockchain, despite its hype in the technology community, is relatively unknown among groups that are technologically uninitiated. Thus, the concept of blockchain is overhyped in certain circles, while being non-existent in others. A recent survey revealed that around 59% of consumers don’t know what blockchain is. Those who are aware of the technology do not know much about it, and hence fail to see blockchain’s true capabilities and limitations. Businesses who are keen on implementing blockchain get caught up in the hype and expect drastic results in a short time. This leads to them making rash, uninformed decisions that lead to unsuccessful projects.
Exchanges are a critical part of the blockchain industries. It ensures that value can be transferred from one individual or a group to another. In so doing, it ensures that the industry thrives, users have better solutions to their needs, and the industries in question grow exponentially.
c. Minimizing Costs
The initial cost of implementing blockchain, like any new technology, is usually high regardless of its long-term benefits and profitability. Add to this the fact that the technology is still undergoing change and improvement, and the idea of committing to blockchain in the present state does not seem very clear and obvious. Unless the projected benefits of using blockchain can considerably outweigh the investment, it is unwise for businesses to green-light the implementation of this technology.
d. Establishing Governance
Since blockchain is completely decentralized, there is no regulatory system in place that can inhibit any unfair activities by certain groups in the blockchain ecosystem. Introducing checks and balance in the blockchain system is a priority if global adoption is the aim. However, it can be difficult to form such regulatory bodies without trust and coordination between global governing bodies, which poses a challenge.
e. Conserving Energy
Blockchain uses up a lot of energy as it uses a large number of computers for solving a single problem and achieving consensus. When the network expands, which is the ultimate objective of any buisness, it consumes a larger amount of energy, which may not be very feasible in the long run. There have been attempts to make blockchains more energy-efficient to eventually eliminated this problem. However, that is not an immediate remedy, and so mainstream adoption is slow.
f. Ensuring Balance
Although blockchain is founded on the principle of transparency and decentralization, too much of these may not be suitable for all purposes. Certain functions need privacy and security of data, such as customer databases with businesses, which need some amount of exclusivity and low transparency. Finding the balance between decentralization and regulation is of great significance, as that will ensure the effectiveness of the blockchain initiative. However, achieving the balance is not easy for organizations, causing delay in further planning and implementation.
g. Improving Scalability
Blockchain technology, as it is now, is not scalable. This is because it uses a lot of resources and cannot handle a large number of transactions per second. Processing more transactions will require a longer time, which is not ideal, as the existing centralized systems process more data per second than the best blockchains in existence. Solving the scalability issue is one of the biggest challenges to the mainstream adoption of blockchain.
Overcoming the challenges to blockchain adoption will clear the path for businesses to incorporate this technology into their processes. Businesses need to be patient and get expert assistance while initiating blockchain pilots before contemplating full-fledged implementation to prevent failures and losses.
What Is Liquidity Network
This is a non-custodial, financial intermediary offering payment and exchange services, It’s a Blockchain based payment hub platform offering zero-fee, instant transfers. Supports the exchange of digital assets, scales like a bank but doesn’t hold funds.
Liquidity Network is about efficiently managing these payment hubs: low set up costs, low maintenance costs, and working regardless of blockchain congestion. Liquidity can handle millions of users per Hub!
Liquidity’s surprisingly simple solution is to have an off-chain server running together with a smart contract. Anyone can run their own hub server, and all the funds of the accounts on these servers are in the control of the users with private keys to those accounts.
The Liquidity Network Exchange
This is a non-custodial off-chain exchange build on top of the Liquidity Network.
The Liquidity Exchange is designed to not hold any funds (non-custodial), while per¬forming atomic swaps off-chain. As such the exchange is resistant to blockchain congestion and excessive transaction fees. Scalable to centralized exchange throughput and beyond.
Our mission is to make crypto spendable.
has designed and implemented a protocol which allows the operation of off-chain payment hubs that securely connect multiple users together under one umbrella, such that locked collateral is orders of magnitude more transferrable.
Users can register with a hub to deposit, transfer and withdraw money with their off-chain accounts.
Liquidity's protocol guarantees that the hub is unable to misappropriate user funds or otherwise steal from its clients.
NOVELITY IN PAYMENT
The hub architecture is novel because funds are no longer locked between only two users, but accessible to thousands of other users on the same hub. At the same time, the funds are secured by the blockchain, other users can’t steal other user’s allocated funds.
a. No rigid locked funds Prosumer
b. Simple design and routing
c. Free and instant channel establishment
d. Non-custodial off-chain swaps
e. Creating of channels instantly, and at no cost.
An off-chain transaction is the movement of value outside of the block chain.
A user that is joining a hub, can transact his funds with any other member of the hub, instantly, off-chain and therefore at significantly lower costs than regular onchain transactions.
On-chain transactions take some time to accumulate enough confirmations to ensure that they can-not be reversed; accepting a transaction without any confirmations is potentially risky. Off-chain transaction systems can record that a transaction has happened immediately, and, subject to the guarantees of the system itself, immediately guarantee it won't be reversed.
All on-chain transactions are recorded publicly on the block chain; Bitcoin transactions are not inherently anonymous. It may be possible for a third-party to use the block chain transaction data to determine the source and/or destination of a transaction if they can gather enough information linking addresses to identities. Because off-chain transactions do not happen on the block chain they need not be public.
Miners usually charge fees to confirm a transaction. While currently the demand for transactions is sufficiently low that fees are relatively small, and transactions can often be confirmed for free, for many applications even paying a few cents per transaction is unaffordable. In addition Bitcoin currently has a limit of 7 transactions per second, the blocksize limit. This limit is related to the scalability of the system as a whole, and one option to achieve higher transaction volumes is to keep the blocksize limit as is and use off-chain transactions for lower-value transactions; with higher volumes fees for transactions done on-chain will rise due to supply and demand.
With REVIVE, their is a solution that allows
an arbitrary set of users in a payment channel network to securely rebalance their channels, according to the preferences of the channel owners.
With REVIVE an honest participant cannot lose any of its funds while rebalancing.
REVIVE is integral part of the Liquidity Network because it's the center of balance.
Easy Use Of Web And Mobile App Wallet
The mobile wallet device is available in both Android and iOS devices.
Liquidity Network promotes an instant payment process which lets you make payments instantly with no waiting time.
Payments are secured by the blockchain.
Allocated funds can be used to pay any other member of the Liquidity Network which means there are no locked funds.
Simple design avoids complex routing.
All transactions and actions performed on the Liquidity Network network are auditable. With this, transparency is ensured.
Enhanced transaction privacy.
All payments are secured by the blockchain and owned by the member at any point, no bank is required.
Fees are paid by either the sender or the recipient, allowing flexibility.
Built on Ethereum and compatible with existing solutions like Lightning or Raiden.
Airdrop powered by Liquidity Network
- Airdrops are a popular community building tool
- Airdropping tokens to millions of users
- No transaction costs
- No custodian required
- Instant and fast drop enabled
- No security problems through private key leakage
- Receiver can instantly forward drops to friends to multiply the network effect
- New engagement possibilities: possibility to send multiple drops, different amounts, no extra cost
- The current market offers airdrop solutions, which we believe are not in the spirit of decentralization and open blockchains.
Airdrop powered by Liquidity Network solves the following problems.
- Airdrop through a custodian (not good, a wallet provider holds the user’s private keys, like a bank).
- Airdrop by sending the private keys to the users (not good, the airdrop provider is still custodian).
- Making millions of on-chain transactions, expensive, slow, spamming the blockchain, not scalable
The Token allows the holder to participate in
the Liquidity Network - it is an access Token to
pay for auxiliary services (e.g. channel monitoring).
LiquidChain GmbH plans to operate several Liquidity Network
hubs on top of the Ethereum blockchain building the foundation for instant and cheap transmission of crypto. Anyone however will be able to operate a LiquidityNetwork hub once the software is open sourced.
LQD Token’s primary purpose is to be used
to access premium features in the Liquidity Network
(e.g. Service Level Agreements). That is for example to guarantee a particularly high number of transactions per second, the user would need to provide a certain amount of LQD tokens to the hub provider.
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Mr Obinna is an investor/Broker, He travels a lot for work and he deals frequently with cryptocurrency as a means of transaction. He has once been a victim of cryptocurrency hack due to On-Chain transactions, but he was lucky that much of his crypto coins wasn't parted away with and also most times experience poor services from the platform he uses for his transactions and he's on the lookout for an off-chain Assured transaction platform . He however resolved in finding a better platform for transaction until he found Liquidity Network, which secure, pretty much scalable, flexible fee, less transaction time. Ever since he's got to use Liquidity Network
, its been smooth sail for Mr Obinna, and he has been going around the world preaching the good news of cryptocurrency and Liquidity Network
as a good platform for exchange of crypto and tokens.
If you are looking forward to build your business on a reliable platform which is Resilient to Blockchain Congestion, has Zero-fee transactions, an Assured Off-Chain platform, a Scalable platform, a Secure platform and an Easy to use platform.. Then you have Liquidity Network
For More Information & Resources Visit
Liquidity Network Website
Liquidity Network WhitePaper
Liquidity Network REVIVE Paper
Liquidity Network Wallet
Liquidity Network Blog
Liquidity Network Twitter
Liquidity Network Telegram Group
Liquidity Network Telegram Announcement
Liquidity Network Apple App Store (IOS)
Liquidity Network Google Play Store (Android)
Liquidity Network Github
Here's the link for My Twitter post: My Tweet