Leading developer of Monero, Riccardo Spagni performs an interactive dance with animations to advertise BTSE (pronounced ‘Bitsy’ exchange).
Recently, Spagni stepped down as the lead maintainer of Monero. He held the position for more than five years since the launch of the protocol. His successor will be one of the core developers, alias, “Snipa”.
Only two days after he made the decision, Spagni released a hilarious video for the exchange.
Vitalik Buterin, the co-founder of Ethereum has apparently been rendered speechless by the video. The only reaction that Buterin gave on the video was a “wat.” Nevertheless, it did not affect Spagni’s vibes who continues to maintain his ‘mojo’ on the internet.
— vitalik.eth (@VitalikButerin) December 21, 2019
Bitcoin Maximalist Pulling their Eggs in One Basket?
Jokes aside, BTSE Exchange as advertised is one of the first exchange that leverages the Liquid network developed by Blockstream. Other leading exchanges that are a part of the network are BitFinex, BitMEX, Huobi, Xapo and so on.
Samson Mow, the CSO of the firm has been criticized for backing the project while shunning other altcoin projects.
Liquid is a side-chain based settlement network between traders and exchanges built by Blockstream. The initiative is starting with exchanges and traders as members who will eventually run the nodes that validates the transactions. Hence, the Liquid blockchain is essentially permission-ed unlike Bitcoin.
So Why are Leading Bitcoin Maximalist supporting the idea?
The Liquid network is build as a second layer on the Bitcoin network. Much like a stablecoin which provides a blockchain version of FIAT, Liquid provides a new version of the crypto with the same value on the main chain. Liquid also inherently supports the Lightning Network.
The newly added features on the exchanges include privacy of the transactions. This will reduce the front running risk involved with blockchain anaysis of Bitcoin. Hence, the amount will be visible only to the parties involved in the transaction.
Moreover, Liquid agrees with the regulatory pressures as well.
Liquid makes compliance easy, whilst providing privacy of transactions.
The confidentiality between exchange transfers and their interlinking will open the industry to a new paradigm. Riccardo who has been always a supported of privacy and confidentiality, has joined the network along with Samson Mow, WhalePanda, and Charlie Lee.
View Riccardo Spagni’s performance here,
— BTSE (@BTSEcom) December 20, 2019
Would trust the Liquid Network of exchanges? Please share your views with us.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Nivesh from Engineering Background is a full-time Crypto Analyst at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com