Blockstream launches new tool to allow atomic swaps for Liquid sidechain assets
Tue, 02 Jul 2019, 11:55 am UTC
Blockchain startup Blockstream has announced the launch of a new tool that will allow users to execute atomic swaps for all assets supported on the Liquid Network.
We're excited to announce the Liquid Swap Tool. This new tool allows users to execute atomic swaps on the #LiquidNetwork for any issued asset such as L-BTC, tokenized fiat, crypto assets, attested assets, & more. GUI & CLI tool are now available. ⛓️???????? ???? https://t.co/yxdZwltLR3 pic.twitter.com/abS3ZztfO5— Blockstream (@Blockstream) July 1, 2019
In October 2018, Blockstream officially launched the Liquid Network – a bitcoin sidechain facilitating faster bitcoin transactions between businesses and individuals, while enabling extended functionality. The inter-exchange settlement network connects cryptocurrency exchanges, market makers, brokers, and financial institutions around the world.
Alongside the launch, Blockstream has released a configuration guide for the Liquid Swap Tool, Cointelegraph reported.
Investopedia defines atomic swaps as a smart contract technology that enables exchanging one cryptocurrency for another without the need for centralized intermediaries, such as exchanges.
In a recent tweet, Blockstream CEO Adam Back explained that “atomic swap between native assets on Liquid L-BTC, L-USDT etc is simpler than cross-chain atomic swap, because the Bitcoin UTXO model transaction rule "inputs add up to outputs" is extended to add up inputs of each type, and types/assets are natively understood.”
Previously in May, Blockstream announced a new platform, called the Liquid Securities platform, which will allow businesses to issue their own tokens on the Liquid Network.
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