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This paper considers solving a class of optimization problems which are modeled as the sum of all agents' convex cost functions and each agent is only accessible to its individual function. Communication between agents in multiagent networks is assumed to be limited: each agent can only interact information with its neighbors by using time-varying communication channels with limited capacities. A technique which overcomes the limitation is to implement a quantization process to the interacted information. The quantized information is first encoded as a binary sequence at the side of each agent before sending. After the binary sequence is received by the neighboring agent, corresponding decoding scheme is utilized to resume the original information with a certain degree of error which is caused by the quantization process. With the availability of each agent's encoding states (associated with its out-channels …