Blockstream officially launches Liquid

Bitcoin • October 10, 2018, 3:47PM EDT
Partner offers
The Block may may earn a commission if you use our partner offers, at no extra cost to you.

Liquid is one of Bitcoin's first sidechain implementations. A sidechain is a blockchain that runs parallel to the main blockchain. Sidechains enable the use of a token from the main chain, in this case, bitcoin, to be used on a separate chain, the Liquid sidechain. Advantages of using a sidechain include increased functionality and speed. 

With the release of Liquid, Blockstream announced that it has partnered with 23 bitcoin companies, including exchanges, brokers, and custodians to help manage the sidechain. These companies will use Liquid to convert bitcoin into LBTC — which will be pegged to an actual bitcoin. Using LBTC companies can transfer value more quickly than on the main Bitcoin blockchain. Companies can also instantly convert their LBTC back to bitcoin when necessary. (Source: CoinDesk)

AUTHOR

Steven Zheng profile picture Steven Zheng

Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi

See More

WHO WE ARE

The Block is a news provider that strives to be the first and final word on digital assets news, research, and data.

+ Follow us on Google News
Connect with the block on

More by Steven Zheng