Review on Liquid by Thalhat Tee
Liquid- is it good or bad for euthereum
UYears ago when the Bitcoin network started suffering from higher fees and congestion, a number of bitcoiners advocated the use of sidechains in order to relieve the main chain’s duties. However, they didn’t realize that the Ethereum network would solidify its role as Bitcoin’s main sidechain during the last year.
Five years ago, bitcoiners relentlessly argued over scaling the Bitcoin (BTC) blockchain and a number of proponents said that sidechains and offchain solutions would help. Moreover, a number of solutions like Blockstream’s Liquid and the RSK network launched. Many supporters assumed those two sidechains combined with the Lightning Network would help alleviate the issues.
However, none of these bitcoin enthusiasts expected to see the Ethereum network take over as BTC’s main sidechain. The situation was discussed this week when the investment partner at Paradigm, Arjun Balaji, tweeted about Ethereum’s massive growth in this area.
“Over the last year, Ethereum has emerged as the first working Bitcoin sidechain, growing from ~0 to 91.8K BTC ($1B notional, 0.5% of circulating supply),” Balaji wrote on Twitter. “Users have choice across the trust spectrum, from centrally issued (WBTC), trust-minimized (tBTC) to purely synthetic (sBTC).”However, none of these bitcoin enthusiasts expected to see the Ethereum network take over as BTC’s main sidechain. The situation was discussed this week when the investment partner at Paradigm, Arjun Balaji, tweeted about Ethereum’s massive growth in this area.
Pros
- 24/7 custiner service
- easy account creation
- it is profitable
Cons
- none
