Founder of BlockBeats NEXT|Liquality: Multi-chain future is inevitable, liquidity will be more valuable

This week, the fifth episode of the second season of the BlockBeats NEXT series invited Thessy Mehrain and Simon Lapscher, the two founders of the multi-chain wallet Liquality, to talk about "Multi-chain Wallet: The Entrance to the Future of Web 3.0" 》 as the theme, talked with BlockBeats about the development prospects of wallets on the chain, and why wallets are an important entrance to the Web 3.0 world, and analyzed some wallets that are well-known to the public.

Liquality is a decentralized non-custodial wallet incubated by ConsenSys with global presence More than 20,000 users, mainly in North America, China, Europe and Southeast Asia. Over $50 million in cross-chain assets have been traded through the Liquality wallet. Liquality supports most mainstream public chains, including Bitcoin, Ethereum, Arbitrum, Polygon, BNB Chain, Near, Avalanche, Solana, Optimism, etc. In the roadmap, Liquality officials also stated that support for all EVM-compatible chains will be launched soon, and the Aptos and Sui networks are being evaluated.

The following is a text review of this NEXT event:

BlockBeats: When did you two get in touch with the blockchain? Why did you enter this track?

Thessy Mehrain:I am Thessy Mehrain, and I am very interested in Web3 interest, Web3 can be said to be a substitute for traditional finance. I am a mixed order of Germany and Iran, and I have experienced global transaction work. Experienced hyperinflation and economic exclusion while in Iran. I was working at JPMorgan and investment banking, trading products, and I saw firsthand how people lost their assets. Then I joined Alternative Banking Group - Occupy Wall Street and heard about Web3 and Blockchain. Web3 can empower users to skip banks and control their assets.

Simon Lapscher : Hi everyone, I am an engineer, Proficient in search engine development, currently working in finance and consulting. I am from Latin America, Venezuela, where Internet security is poor, hyperinflation is rampant, and the currency is losing value every day. From then on I started to understand the economic system.

BlockBeats: Thank you for your introduction, since today’s topic is around wallets, Liquality is The project incubated by the Ethereum development team ConsenSys, can you introduce your characteristics and advantages to us?

Thessy Mehrain: Liquality is a multi-chain wallet that The concept of "one wallet, multiple blockchains", Liquality It is a window to Web3, similar to an aggregator, users only need one wallet to complete all different functions, such as compatibility between different chains, users can transfer funds across chains, and can see NFT, etc. Liquality It is also a non-custodial wallet, the wallet is completely controlled by the user, and assets can be called at any time.

The core idea of Liquality is that the wallet is 100% open source. Some wallets on the market claim to be open source and claim to be non-custodial wallets, but they are not. The name Liquality is a combination of "liquidity" and "equality", so liquidity and fairness are also our long-term vision.

BlockBeats: Both Liquality and MetaMask were incubated by the Ethereum technology research and development company ConsenSys. Compared with Liquality and MetaMask, the differences and advantages are where?

Thessy Mehrain: Although Liquality and MetaMask are incubated by the same company, and MetaMask is in a dominant position, the positioning of the two parties is different. MetaMask is a single-chain project, but Liquality is a multi-chain cross-chain project, and has also received investment from ConsenSys. Liquality is the pioneer of multi-chain projects, and the directions of the two companies are different in the future development.

From a marketing point of view, Liquality supports six languages and also supports Chinese. Liquality's value proposition focuses on "multi-chain". We have a strong global team, and developers from all over the world come together to build this project with us, making Liquality stronger and stronger. At the same time, we have very good partners, such as BlockBeats and Blockchain.com.

Simon Lapscher: In addition to the "multi-chain" advantage, we are The way of Build is also different. We hope more developers will join us in building Liquality. We also did get a lot of outside help, so open source is really important.

BlockBeats: Since it is a wallet closely related to assets, it is necessary to talk about security issues. Since October, incomplete statistics of hacking attacks have exposed 800 million US dollars of assets to risk. How does Liquality ensure the security of assets in the wallet?

Simon Lapscher: I think I understand what a "hosted wallet" is , "non-custodial wallet" and "personal wallet" are very important. Both Slop Wallet and Phantom Wallet are called non-custodial wallets. Although users hold assets, they do not know where the assets are because these wallets are not open source. Now many wallets are not open source, and the company stores the user's private key on a centralized server, which can easily lead to the leakage of the private key. As a user, you may never know why the private key was leaked and what happened behind it.

Therefore, Liquality attaches great importance to fairness. hosting". Everything we do is public, and we will not control user assets, only users themselves can call their own assets. Liquality will never let any individual manage the user's private key, only the user can control the private key. This is where the power of Web3 comes in. We only provide technology, but users are the controllers of assets.

BlockBeats: How does Liquality ensure the security of cross-chain transfers?

Simon Lapscher: First of all, we have integrated high-quality suppliers , have been reviewed multiple times. These are chain bridge aggregators that allow users to use multiple circuits in the same transaction, allowing currency-to-coin conversions. We select highly responsible and audited partners.

As a wallet, the most important point is that if there is a liquidity function on the chain bridge, it is easy to lead to hacking. Our users do not need to inject liquidity into the cross-bridge, they only need to use their wallets for currency exchange. Therefore, if something abnormal happens to the wallet, the chain bridge will be automatically closed. We try to minimize the risk.

BlockBeats: Liquality Wallet has a creative feature called Liquality Boosts, can you guys tell me a little bit about what it does and what it does?   

Simon Lapscher:We do quality Well done, so we built a liquidity pool for currency exchange, initially the pool was our own cross-chain atomic swap. Later, more and more liquidity providers, such as Uniswap, were invested.

With the Redeem feature, you can now use any of these providers to make a redemption. If one vendor doesn't cover a route but two do, then we tie those two together and that's a big boost for us. As a result, we offer more exchanges than any other wallet in the space, because not only can we offer more providers than any other wallet. We also combine two suppliers into one, so you can reach further in different chains.

BlockBeats: Why do you think the future Web3 must be multi-chain? Why do you think we will definitely join multichain? Why do we need more new chains?

Thessy Mehrain: This is the beginning of this ecosystem. In general, blockchains are problematic. This is the so-called impossible triangle, and there is a trade-off. V God said that in the past, centralization, security and scalability, you may have two of these three, and it is impossible for the three to exist at the same time. Bitcoin, for example, is very decentralized and very secure. In terms of scalability, it is not so good, it will be slow, and the blocks will be small. Looking at Ethereum also has a scalability problem.

Now, that changes with the move to PoS. And solutions that are often called Ethereum killers are also in this case, they are trying to solve a specific part. For example, if the main attack conducts transactions very quickly, but the security may be compromised, then they effectively lose security or decentralization.

So they usually take an aspect attribute, of course this is just my opinion. So having different blockchains for different users makes perfect sense in the future. So we're going to continue to do that because it allows us to optimize the technology for specific use cases.

And then there are many applications that have started to have their own blockchains. I think each use case said will have its own version or flavor of the chain. We will only see more and more so-called application chains.

For example, dydx is built on Ethereum, as a derivatives trading platform, dydx transactions The quantity is huge. But they also can't stay on Ethereum forever. After they moved to Ethereum layer2, they also had their own requirements on how to scale. So they built their own independent chain on Cosmos. We will only see the explosive growth of these application chains, where you, as an application, such as a game, especially use social things like high frequency.

They will want their own specific way of scaling, whether it is on Cosmos, or Polkadot , whether it is on layer2 or Ethereum. So to the user, each is essentially a separate chain. So that's just going to make liquidity more and more valuable in the future because we'll be able to bring it all together in one place.

BlockBeats: Yeah, I totally agree with you. At present, there is a lot of discussion on Aptos and Sui in the market. What do you think are the differences between them and the existing public chains? Do you have plans to grow with them?

Thessy Mehrain:Yes, they are doing some innovative matter. I know more about Aptos than I know about Sui. So I can talk a little bit more about their ability to write in the Move language that Facebook made and it's very developer friendly.

Simon Lapscher: As far as I know, building apps on The program is very intuitive. You can see that there is a developer community forming. They actually already have over 200,000 users, which is pretty impressive. So I think like Thessy said before this, it's going to have a special use case for those who want it. This is a highly scalable chain, decentralized, and open. They are all on the roadmap. What I'm seeing is having a stronger developer community, and that's something we're focusing on.

So most likely, we will integrate those Layer1 items, which is what we will do with One of the cooperating companies. So we want to support both of them, and we'll do that as soon as possible. In our next step after launching Solana, we may look for public chains like Cosmos to cooperate with. Then we can go to dock Aptos and Sui.

BlockBeats: What is the roadmap for Liquality in the near future? Do you have anything to say to the community?

Thessy Mehrain: We have many plans for the near future. We are launching the Atlanta integration. I think we will be one of the very few wallets that can support Bitcoin, Evm chain and Solana at the same time, which is really cool. You will be able to view your NFTs from all these chains in one place. After that, like I said, we are likely to move towards the Cosmos ecosystem. And I think the Cosmos ecosystem desperately needs a good multi-chain wallet to provide a multi-chain experience. We want to continue this expansion and become a platform that other developers can build on. We want to allow developers to build their functionality into the wallet, making it even more powerful.

< p>Finally, in December we will be launching the first beta version of our mobile wallet, which we are very excited about. Of course, there's more going on. But from a product standpoint, those are the one things we're most excited about.

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