Abstract: Liquid metals are a kind of functional material with unique physical properties. They are in a liquid phase at normal temperatures, possessing the characteristics of strong electrical conductivity, high thermal conductivity, repeatable utilization and etc. They are mainly used in electrical disconnection, 3D printing, magnetic fluid power generation, energy storage and other fields. In recent years, liquid metals have become a major science and technology frontier hotspot under the exploration and research of scholars at home and abroad. This paper reviews the development of several typical liquid metals at home and abroad, and introduces the thermodynamic properties, electrical conductivity and flow properties of liquid metals. Meanwhile, this paper summarizes the status of research in the field of fault limiter, switch, flexible electronics, and energy storage battery from the application principle, working performance, etc, and suggests future research priorities in these areas. Based on the properties of liquid metals, the prospects in research and potential applications in the fields of rapid energy dissipation and sliding electrical contact are put forward.