Bitcoin [BTC] transfers will become a lot faster with Liquid Network, says Jimmy Song

Jimmy Song, a Bitcoin developer spoke about the invention of the Liquid Network, whether it was centralized and if it could potentially harm Bitcoin’s reputation, during an interview with Crypto Insider.

Song opined that the Liquid network was a “good first step” towards sidechains, a mechanism that allows digital assets from one blockchain to be securely used in another blockchain. These assets can then be moved back to the original blockchain when necessary. He stated that Liquid Network adopted the Federated Trust Model where a “super majority” of participants were required to sign off before the transactions are successful. Jimmy further added:

“If I remember correctly, they have 23 and you need a super majority, or 1 + ⅔ or something like that… So Sixteen or Seventeen out of those twenty-three need to agree before any transactions go through but generally if it’s signed by people then it can go through fairly quickly because it’s a trusted,…