Liquid Network

Functionaries are the specialized, tamper-resistant devices that operate and secure the Liquid Network, currently 15, run by Liquid Federation members and distributed around the world. Instead of proof-of-work, they take turns proposing blocks in a round-robin, and a block is finalized once 11 of the 15 sign it. Each pairs a functionary server with a Hardware Security Module that guards one of the 15 federation multisig keys. The Dynamic Federations upgrade allows expansion beyond 15.

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Liquid has two membership tiers: Liquid users (anyone, using free open-source software to send and receive) and Liquid Federation members (incorporated companies that operate and govern the network). By technical role there are light wallets (rely on a trusted node), Liquid nodes (trustlessly validate, peg in, and issue assets), bridge nodes (Federation-run, shielding functionaries from denial-of-service attacks), and functionaries (the 15 HSM-backed devices that sign blocks and secure the peg).

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Yes. Every Liquid asset, including LBTC and USDT, uses the same address type, so any Liquid asset can be sent to and from any Liquid address. The Blockstream app automatically recognizes received assets, showing names and logos for those in the Liquid Asset Registry and asset IDs for unknown ones. As with Bitcoin, it's best practice to avoid reusing addresses.

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