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Blockstream Releases the L-BTC Network’s New Core Wallet

Blockstream has announced the release of Liquid Core, a new multi-platform desktop wallet for L – BTC transactions on the Liquid Bitcoin sidechain network. It aims to provide users with a familiar user interface to send and receive Liquid Bitcoin and Liquid Network assets based on the tested Bitcoin Core.

Blockstream, led by Adam Back, is one of the companies that work exclusively around the Bitcoin network to build technology. In October 2018, the company launched the Liquid Network, a federated sidechain to the blockchain of Bitcoin. The sidechain was conceived as a method to scale and improve the transaction times of Bitcoin’s network scale.

In the press release, the crew said that

“Liquid Core provides traders with the tools to deposit and withdraw L – BTC from supporting exchanges and also allows them to interact without having to have an intermediary.”

Liquid Bitcoin (L – BTC) has become much easier with the recently released software, thanks to a user – friendly interface.

The Liquid – Network transaction will take two minutes and will give traders access to much more fast transactions, and better use of capital from the Layer-1 Bitcoin blockchain.

The official statement explained :

“Liquid Core has to default confidential transactions to conceal key transaction details, such as the types of assets and amounts from third parties. This ensures much better privacy than typical Bitcoin transactions and reduces the risk of disclosure to competitors of sensitive trade information.”

Liquid aims to provide a blockchain for large players in the industry who want to settle transactions. The primary users of the Liquid sidechain are the cryptocurrency exchanges, brokers, market manufacturers, and others. It offers fast processing time, privacy and security when executing orders as a federated sidechain.

Blockstream also mentioned that companies experimenting with the issued assets of Liquid would be able to use the new release of Liquid Core to “send, receive and manage multiple issued asset balances from the same Liquid UI.” The Chief Architect of Blockstream, Lawrence Nahum, used this feature to provide free beer tokens on the liquid. beer website.

However, the advantages a federated sidechain offers come with the downside of centralization. The initial users are both the sidechain companies and 23 organizations. The project also includes well – known exchanges, such as Bitfinex, Bitmax, OKCoin, SIX Digital Exchange, and other cryptocurrency institutions, such as Xapo, Autonomy or Atlantic financial institutions.

Adam Back reiterated on Reddit that,

“Mostly liquid is interesting for people who trade in exchanges or do cross – exchange trading as it allows them to deposit funds faster from storage and move funds quickly across exchanges.”

In addition to offering a value – linked settlement layer to Bitcoin (BTC), Liquid also allows traditional asset tokenization — allowing users to exchange assets on the blockchain quickly. The unveiled wallet already includes support for the management of Issued Assets from the same Liquid Core UI. At a later date, asset issuance will be implemented in the wallet UI.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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