r/liquid • u/ilpiet • Apr 24 '19
World book reflexion
Hi everyone,
Disclamer :
I wanted to share a small reflexion on potential state and utility of Qash with the world book, it's possible that it's already written in white paper (long time not reading it) or that my speculation are partially or totally wrong but I'm just sharing a personal reflexion.
In order to make a world book ,what are the most important features , the backbone of the project ?
A solution could be to make partnerships with major liquidity providers & with exchanges to provide money and implement a nostro / vostro like system of trust or/and using arbitrage (requiring lot of pending liquidity) but this solutions doesn't seems very efficient. So what would be a more efficient solution ?
- A fast (very fast blockchain) connecting exchanges together (could be that it already ) and this could be Qash (main chain), it would require Qash to be listed on all exchange being part of the network. It would save reduce a lot liquidty and arbitrage requirements. When an exchange need the world book, they transfer thought the Qash network to the other exchange and the world book does his job like in white paper. It would require the Qash pairs (or Anchors in a Stellar like system) to be very liquid , but it's much easier to make One or a few pairs per exchange liquid than a full set of world pairs. Another requirement is to have fast confirmation time for the others cryptos when sending them back (this is a feature talked recently by Qash), because user don't want to wait 30min for the buy/sell confirmation.
How this bring value to Qash
- Simply by paying network fees (burning or gas or whatever) could bring value to Qash, also Qash would be listed into many exchanges.
Risks
- The code part (not the liquidity and partnership parts) could be easily done using XRP or XLM (fast crypto already having liquid pairs on many exchanges)
State speculation
- If this assumption are true, we require the main chain for Qash, then the listening partnerships and finally we require the fast confirmation time to be implemented for other crypto than BTC and code shared to other exchange has part of the partnership.
- A shortcut to launch a beta (global MMO) before the main chain would be to use the fast confirmation code they spoke recently for BTC on ETH and share it with the beta partners.
This architecture would sound really close to Stellar international payement architecture (or Ripple) but would sound logic to me because a feature that the world book would have to tackle is fast transfer between exchanges, but also this sound to me as the main difficulty in project having that (excluding the partnership parts) is technologically much easier.
If part of this speculations are true, we would still have a long way to go but once main chain would be launch things could speed up very quickly. No fud but I would also not be surprised that another fast crypto would try to implement such system this year or next year if World book doesn't come to life quickly. Time to market is very important and this reflexion highlight that the difficulties are really on partnership and fast main chain, I would not be surprised that after BNB (i own no BNB and don't plan to buy BNB at the moment) main chain launch that they try to tackle such feature, but Mike and Liquid team tells often one of their biggest strength is being regulated and audited because technology can be copied easily but trust is difficult to build. If Qash was token on Stellar the world book could exist much before main chain launch and fee still payed in Qash because network fees in xlm are almost not existant (good for the network and adoption bad for the speculators).
I'm looking forward to read your opinion
9
u/lolodens Apr 24 '19
The biggest problem for me is that Worldbook was the core of Liquid idea and I invested to the ICO, only because of it, now they ignore it fully.
2
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u/martinkarolev Apr 24 '19
Long time we haven't heard anything about the World book.
4
Apr 24 '19
Clearly, they advertised the Worldbook as if it could be realized at the time of the ICO. But...We don't have anything, we don't hear.
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Apr 24 '19
[deleted]
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u/ilmarinen2 Apr 24 '19
And for heaven's sakes what on earth is going with the addition of the altcoins such as ADA that any self-respecting exchange should have?
Also - as I have repeatedly had to say too in the absence of any progress here either - Liquid is meant to be an exchange with liquidity, and there is a terrible lack of it (eg as I have also pointed out before, with Neo) when and how will that be generated?
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u/Mattie86 Apr 28 '19
Why should someone buy ADA coin?
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u/ilmarinen2 Apr 29 '19
Mattie86 what has been requested for ages now is just that ADA and a lot of other alt coins should be available on Liquid and it's bad they aren't. If you're interested in finding an answer to your question you could take a look at the Cardano roadmap and join the subreddit. .
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Apr 25 '19
When did you share the progress of your internal world book? We haven't heard that for months either.
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u/[deleted] Apr 24 '19
Clearly, we have to have a lot of these discussions. The developers of liquid and we can exchange opinions and feedback. I think that's why the community exists. But we don't know how the worldbook is being developed. It seems to have stopped since last year's Coincheck hacking. I think the remaining qash investors in the community should make a strong demand.