Blockstream Green heralds Liquid digital assets

Blockstream Green announced in a report dated 05 July about the addition of Liquid option, making the Liquid Network easily accessible from a mobile app.

Blockstream Green informed that the new offer was supported across both iOS and Android with a desktop option coming soon. The industry-leading Bitcoin wallet firm added on the potential benefits of the handout. Blockstream Green conveyed that users could now store, send or receive Liquid Bitcoin and other assets on the Liquid sidechain. In a nutshell, Blockstream Green clarified that the users are treated with faster and more private Bitcoin transactions.

Elaborating on the seamless and swift transactions, Blockstream Green noted – 

“Bitcoin transactions typically require multiple confirmations before they can be considered secure. Waiting for multiple confirmations not only takes a long time, but you can never really be sure when they’ll come through due to the inherent randomness of the proof of work process. Liquid is optimized for exchange traders, and with the new Liquid option on Blockstream Green, bitcoin moved to the network (known as Liquid Bitcoin, or L-BTC) can be securely settled within a reliable two minutes.”

Blockstream Green added that certain transactions would also benefit from the latest Confidential Transaction technology. This innovation makes sure that certain salient details of the transaction remain hidden by default. Blockstream Green elaborated on the nature of security as previously mentioned. A user using some form of block explorer would be able to see the only public address but not the quantity and the nature of digital coin sent.

Blockstream Green conveyed that users could now store, send and receive Liquid Bitcoin and other assets on the Liquid sidechain.

Blockstream Green further added on the support for Issued Assets as the second form of the digital asset provided by the platform. The Bitcoin wallet firm threw some light on the logistics of Issued Assets. Blockstream Green informed that owners of tokenized fiat or stablecoins would have full custody of their assets and can transact with other Liquid owners one-on-one. Blockstream shared insight that for Issued Assets to be readable, it has to be registered.

In March, there were reports of collaboration between Blockstream and goTenna about the integration of the latter with Blockstream’s services. The new integration would allow a peer-to-peer solution despite network disruptions. The firms are combining their skills to make it easier to get people without direct internet connections. 

Blockstream Green wrapped up by emphasizing that these offerings had been added to open source repositories. Blockstream Green noted that this would enable Bitcoin wallet developers to customize their own wallet apps.