MEGATHREAD: Intro to the Liquid Network 🌊
Bitcoin is great but, for traders and exchanges, a bit slow.
Liquid, a Bitcoin sidechain, extends and optimizes Bitcoin for traders by enabling fast, confidential transactions.
Here's how that works and why you should use it. ⤵️
Bitcoin is great but, for traders and exchanges, a bit slow.
Liquid, a Bitcoin sidechain, extends and optimizes Bitcoin for traders by enabling fast, confidential transactions.
Here's how that works and why you should use it. ⤵️
Like Bitcoin, Liquid records every transaction on a public blockchain. Liquid's blockchain is built with Elements, a sidechain project based on the Bitcoin Core codebase.
Use the Liquid block explorer to browse the sidechain's transaction history.
🔗 blockstream.info/liquid/blockch…
Use the Liquid block explorer to browse the sidechain's transaction history.
🔗 blockstream.info/liquid/blockch…
Unlike Bitcoin, Liquid blinds every transaction's amount and asset type. 🕵️ No one can tell a 5,000 L-BTC tx from a 2 USDT tx.
This information is hidden by some clever cryptography in Confidential Transactions (CTs), a key Liquid feature.
Learn more: docs.blockstream.com/liquid/technic…
This information is hidden by some clever cryptography in Confidential Transactions (CTs), a key Liquid feature.
Learn more: docs.blockstream.com/liquid/technic…
Unlike Bitcoin, Liquid confirmation times are fast with no variance.
🌊 Functionaries create new blocks.
🌊 Blocks are created in 1-minute intervals.
🌊 After 2 blocks, transactions are settled.
🔗 docs.blockstream.com/liquid/technic…
🌊 Functionaries create new blocks.
🌊 Blocks are created in 1-minute intervals.
🌊 After 2 blocks, transactions are settled.
🔗 docs.blockstream.com/liquid/technic…
Anyone can use Liquid, not just exchanges.
Here are two ways that anyone can start making Liquid transactions right now.
Option 1: Set up a Liquid wallet in Blockstream Green
📲 Download Blockstream Green (iOS or Android) and follow these instructions: docs.blockstream.com/green/liquid/l…
Here are two ways that anyone can start making Liquid transactions right now.
Option 1: Set up a Liquid wallet in Blockstream Green
📲 Download Blockstream Green (iOS or Android) and follow these instructions: docs.blockstream.com/green/liquid/l…
Want to start using Liquid right now?
Option 2: Run a Liquid full node
Anyone can download the current version of Liquid and use your node wallet to create transactions.
🖥️ Here's a quickstart guide: docs.blockstream.com/liquid/quickst…
Option 2: Run a Liquid full node
Anyone can download the current version of Liquid and use your node wallet to create transactions.
🖥️ Here's a quickstart guide: docs.blockstream.com/liquid/quickst…
Speed and confidentiality make Liquid a key tool for traders and exchanges, especially when preparing for another bull market.
With Liquid, traders can...
🌊 Take custody of assets
🌊 Exploit arbitrage opportunities
🌊 Avoid front-running
🌊 Escape mainchain congestion
With Liquid, traders can...
🌊 Take custody of assets
🌊 Exploit arbitrage opportunities
🌊 Avoid front-running
🌊 Escape mainchain congestion
Did you know? To date Liquid is supported by over 40 exchanges, trading desks, wallets, and payment services.
🌊 See the full list and learn about becoming a member at liquid.net.
🌊 See the full list and learn about becoming a member at liquid.net.
Issued Assets is a key Liquid feature for users who want to use digital assets other than L-BTC. To date, over 30,000 assets have been issued on Liquid. 🌊
For all Issued Asset transactions, Confidential Transactions blind amounts and asset types.
More: docs.blockstream.com/liquid/develop…
For all Issued Asset transactions, Confidential Transactions blind amounts and asset types.
More: docs.blockstream.com/liquid/develop…
Anyone running a Liquid full node can create fungible or non-fungible assets on the network. Here are some examples:
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Token creators can also register their asset in the Liquid Asset Registry: assets.blockstream.info
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Token creators can also register their asset in the Liquid Asset Registry: assets.blockstream.info
The #LiquidIssuer GUI makes issuing new assets on Liquid easy. Just configure it to connect to your Liquid/Elements node, fill in the required items, hit "Create", then broadcast your new asset issuance to the blockchain! 🌊 gitlab.com/valerio-vaccar…
#BTC is transferred to Liquid via a peg-in process. 🌊
➡️ Peg-in = BTC is locked on the mainchain, L-BTC is created in an equal amount on the Liquid sidechain
⬅️ Peg-out = L-BTC is destroyed on Liquid, BTC is then unlocked and sent to a mainchain address
➡️ Peg-in = BTC is locked on the mainchain, L-BTC is created in an equal amount on the Liquid sidechain
⬅️ Peg-out = L-BTC is destroyed on Liquid, BTC is then unlocked and sent to a mainchain address
