Blockstream Green introduces Liquid Network support to enable confidential transactions

  • 06 July 2019, Saturday, 19:00

When the financial factors of cryptocurrencies are taken out of the picture, blockchain developments and update implementation on the mainnet network take center stage for various virtual assets.

Blockstream is widely popular in the cryptospace for its leading work in developing Bitcoin from the technological point of view. One such major announcement released by the organization was the introduction of atomic swaps; a cryptography tool to ease trading of tokens between the blockchain and the Liquid sidechain.

Blockstream revealed that the company was going to launch Liquid on Blockstream Green, its leading Bitcoin wallet.

The function of Liquid is to facilitate faster transactions for Bitcoin users and the accessibility of that option on Blockstream Green should be incredibly useful for users.

It is important to note that Liquid is highly optimized for exchange traders, which means that any Bitcoin that is transferred to the Blockstream Green network would be relatively secure and settled in under two minutes.

It was understood that Blockstream Green would also support issued assets such as tokenized stablecoins, on their network.

Following the announcement on Twitter, John Carvalho, CCO at Bitrefill, raised a query where he stated that the Liquid option did not appear on his existing wallet. However, he soon corrected his statement, claiming that it was available later on.

This suggested that Blockstream Green was dealing with an interface issue, soon after the announcement. The hunch was confirmed when Samson Mow, CSO at Blockstream, confirmed that the UX still needed work.

Adam Back, CEO of Blockstream, also gave his two cents on the announcement, praising the development and expressing his views on the benefits of Confidential Transactions enabled by the wallet.