Bitfinex adds sidechain support for bitcoin …

Bitfinex adds Bitcoin support based on Liquid Network sidechain

Blockstream’s Liquid Network sidechain, developed by Blockstream, has accepted 14 new members, along with their the total reached 35.

According to a post on the company’s blog, Liquid is now available on exchange Bitfinex and RenrenBit crypto-financial app, thanks to what their users will have access to transactions bitcoin carried out outside the main networks cryptocurrencies.

Describing future projects, company reported about the upcoming integration of two dollar-backed USA stablecoins: Tether (USDT) and Stably (USDS).

“Liquid reduces the complexity of integration for such exchanges as our, then time how do traders get possibility to rule by all by their assets of a single wallet application “, – stated Paolo Ardoino, CTO of Bitfinex.

Bitfinex adds sidechain support for bitcoin ...

By words Blockstream Chief Strategist Samson Moe, opportunities Liquid will speed up implementation cryptocurrency transactions for both the storage of assets and their exchange. “Transaction details are hidden in Liquid by default at assistance technology privacy. Thanks to this users no need to prepare for major transactions in advance“, – added is he.

Liquid sidechain was launched by Blockstream in the past year and became the answer to scaling technology bitcoin Lightning network, but, unlike it, it is focused not on micropayments, but on dispatch “Fast and reliable transactions of large volume“.

Bitfinex adds sidechain support for bitcoin ...

Among new Liquid participants turned out to be and Huobi exchanges, OpenNode payment service, mining pool and others. Besides Togo, crypto-derivatives exchange BitMEX in the near future also intends to add support for Bitcoin based on Liquid as part of a pilot program.