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Javeria
Jan 21, 2020
by Javeria

Both Lightning And Liquid Networks Are Important: Samson Mow

Lightning and Liquid
Crypto markets have been criticised and valued at the same time for their ability to create new tokens and various use cases for different real-life issues.  There are hundreds of altcoins that provide better utilities and are much faster than bitcoin but most of them lose their lustre before Bitcoin because of being centralized.

The transactions of Bitcoins are limited because of scalability issues to average block time of 10 minutes because of which it can’t be expected to become a currency in it’s present state. According to Samson Mow, the CSO of Blockstream, blockchain technology needs to be continuously synced and hence is not very conducive to fast transactions.

Importance Lightning And Liquid

The comprehensiveness of the Bitcoin network is responsible for maintaining the value system of Bitcoin at the moment. Lightning and Liquid Network can induce privacy, speed and scalability to Bitcoin transaction if leveraged with Bitcoin’s network, said Mow. He added that liquid network has already started working as a side-chain for USDT and BTC. Only 0.3% USDT is currently authorised on Liquid chain; however, it is still higher than EOS. 

Samson Mows Views

Mow wrote that Liquid is a side-chain of Bitcoin which does not have a native currency. However, it has bitcoin but in the liquid form called Liquid Bitcoin (L-BTC). Besides Lightning Network provides free instant transaction and is not a ‘blockchain per se’. 

He explains both the concept of Lightning and liquid network and that how both are important. Where Liquid is aligned toward Exchanges and Financial Services Industry, Lightning provides a settlement layer for payment.

Altcoin supporters often suspect hypocrisy in Mow’s views and the way he shames projects like Ethereum and other altcoins. However, the community with exchanges could decide on using the solutions as there is less opportunity for manipulation. At present, Blockstream is working on Liquids as well as providing support to Lightning Labs.

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Both Lightning And Liquid Networks Are Important: Samson Mow
Javeria
Javeria is into the crypto world ever since she heard about it and is pursuing her interest through cryptoknowmics. She is a sensational poet, technical writer and content strategist. Not to mention that she can go crazy when it comes to vampires and Wonder woman.

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