Thanks @blockstream_official for sharing the link to the Blockstream Quarterly Q2-Q3 report.
Was a good read. It was especially interesting to see how far along Jade has come. Jade appears to be one of the better open-source hardware wallets in the market.
I like Liquid. I've used it in the past.
Here are some questions or observations that i was hoping @blockstream_official would be able to answer.
Liquid has about 67 members in its federation comprising of major exchanges, Bitcoin infrastructure companies, digital asset managers, wallet providers and other Bitcoin-focused companies.
Of these 67 members, 15 operate signers that run custom-built hardware security modules (HSMs) and specialized software to produce blocks and manage the pegged bitcoin in an 11-of-15 multi-signature wallet.
Are these 15 signer members rotated amongst the 67 members?
What is the rotation period?
What is the process of selecting these signer members?
How do you prevent signer members from the same parent company or VC funded bias from colluding together to harm the Liquid federation?
How are conflicts resolved amongst Liquid federation members?
Are Liquid federation memberships accepted from US sanctioned countries like Venezuela, Syria, Iran, Cuba and Russia?
In addition to the 11-of-15 multi-signature wallet, the Liquid federation’s wallet implements an Emergency Withdrawal Procedure (EWP) by using a 4,032 block (28 days) timelock after which a 2-of-3 multi-signature wallet is able to spend from federation wallet.
Which Liquid federation members are part of this 2-of-3 multi-signature wallet?
What is the process of selecting these members for the 2-of-3 multi-signature wallet?
Are these members rotated amongst the Liquid federation 67 members?
How do you prevent members from the 2-of-3 multi-signature wallet from the same parent company or VC funded bias from colluding together to harm the Liquid federation?
Blockstream rebranded C-Lightning to Core Lightning (CLN). This was a good move.
Are there plans for Blockstream to rebrand Liquid (L-BTC) to remove BTC from the token name to help reduce confusion between Liquid and Lightning?
In addition to the above, Liquid Network has emergency backup keys held solely by Blockstream.
What prevents Blockstream, or a rogue employee, or pressure from a despot government regime from harming the Liquid federation?
How do we know for certain that a government does not already have access to a copy these Emergency Backup Keys?
FYI, I’m a fan of Liquid. I acknowledge Bitcoin layer-2 is hard to pull off and tradeoffs must exist. I am simply after some extra transparency on above questions while the network continues to grow, liquidity increases and before the next bull-run arrives. Thank you.
Thanks @blockstream_official for sharing the link to the Blockstream Quarterly Q2-Q3 report.
Was a good read.
It was especially interesting to see how far along Jade has come.
Jade appears to be one of the better open-source hardware wallets in the market.
I like Liquid. I've used it in the past.
Here are some questions or observations that i was hoping @blockstream_official would be able to answer.
Liquid has about 67 members in its federation comprising of major exchanges, Bitcoin infrastructure companies, digital asset managers, wallet providers and other Bitcoin-focused companies.
Of these 67 members, 15 operate signers that run custom-built hardware security modules (HSMs) and specialized software to produce blocks and manage the pegged bitcoin in an 11-of-15 multi-signature wallet.
In addition to the 11-of-15 multi-signature wallet, the Liquid federation’s wallet implements an Emergency Withdrawal Procedure (EWP) by using a 4,032 block (28 days) timelock after which a 2-of-3 multi-signature wallet is able to spend from federation wallet.
Blockstream rebranded C-Lightning to Core Lightning (CLN). This was a good move.
In addition to the above, Liquid Network has emergency backup keys held solely by Blockstream.
FYI, I’m a fan of Liquid. I acknowledge Bitcoin layer-2 is hard to pull off and tradeoffs must exist. I am simply after some extra transparency on above questions while the network continues to grow, liquidity increases and before the next bull-run arrives. Thank you.
https://imgprxy.stacker.news/nSlaoxMBFRPHKX9T6lYH-AA2QkP97brfqWXQX_3UT68/rs:fit:600:500:0/g:no/aHR0cHM6Ly9ibG9nLmxpcXVpZC5uZXQvY29udGVudC9pbWFnZXMvc2l6ZS93MTAwMC8yMDIyLzEwL2xpcXVpZDEwLjJAM3gucG5n
A snapshot of the Liquid ecosystem in 2022.