RATE Group | What Does The Liquid Network Mean For Bitcoin?
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What Does The Liquid Network Mean For Bitcoin?

15 Oct What Does The Liquid Network Mean For Bitcoin?

Posted at 14:36h in Bitcoin News by

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The Liquid Network is now live, allowing fast, secure transactions without the encumbrances of the main Bitcoin blockchain. In a blog post announcing the launch, Blockstream, one of Bitcoin’s leading development companies, declared that the new sidechain would facilitate transactions between “exchanges, brokers, market makers, and financial institutions around the world.”

In addition to faster, more secure transactions, Blockstream says that the Liquid Network will allow “Issued Assets” with ERC-20 like properties, allowing exchanges of tokenized fiat or other assets. 

But before you dive into the Liquid Network with your life savings, it’s important to understand what it is—and isn’t. 

A Side-Eye at Side Chains

In short, a sidechain is a private blockchain between a small federation of Bitcoin nodes. Since it’s based on a smaller network, side chains allow faster, more secure transactions without the burden of mining.

Instead of a trustless network, Liquid is…

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