As the adoption of Bitcoin (BTC) sidechains continues to grow, a major Bitcoin sidechain, the Liquid Network, will soon host a token sale. BTSE, a multi-currency digital asset and derivatives exchange, plans to launch its Liquid Network-powered token sale on March 5, 2020, the exchange tweeted on Feb. 25. According to an announcement shared with Cointelegraph, BTSE has recently completed a private sale round featuring high-profile investors like major digital asset manager FBG Capital. Other investors included early stage investment firm Lemniscap, CMS Holdings, Taureon Capital, GBCI Ventures and BCB Blockchain, as BTSE CEO Jonathan Leong noted. First-ever native exchange …
Cryptocurrency exchange Bitfinex moved 1 .561 million Tether (USDT) from the Omni Protocol to the Liquid Bitcoin (BTC) sidechain. Bitfinex CTO Paolo Ardoino announced the U.S. dollar-pegged stablecoin’s protocol swap on Twitter on Nov. 2. The conversion increases the quantity of USDT available on the network after the stablecoin was first launched on the Liquid sidechain at the end of July. Ardoino said that the development will have a beneficial effect on the protocol: “Liquid sidechain has now more liquidity for atomic swaps and cross-exchange arbitrage.” A sidechain in rapid development In July, Liquid developer Blockstream launched a new tool …
Japanese blockchain development company Crypto Garage announced it was launching commercial service on its Settlenet platform for the crypto OTC market. According to an update on Digital Garage’s website posted on June 8, its Crypto Garage venture is launching commercial service for Settlenet, a settlement system using Blockstream’s Liquid Sidechain. Specializing in over-the-counter (OTC) transactions of digital assets for trading companies, crypto exchanges, asset managers and brokers, Settlenet has been in development since before January 2019, when Crypto Garage obtained regulatory approval from Japan’s Financial Services Agency (FSA) for a demo version. “In this demo, we went beyond proof of …
Similar to a bank account for fiat currency, a crypto wallet is a personal interface for a cryptocurrency network that provides reliable storage and enables transactions. Whether a cryptocurrency is securely stored or not, much depends on the wallet, which is only as secure as its private keys. Wallets are generally either hot or cold. The funds in a hot wallet can be spent at any time, online. A cold wallet functions in contrast: not intended for regular cryptocurrency transactions, but funds can be received at any time. Wallets can also be divided into three groups: software, hardware and paper. …
Tether is now running on a sidechain of Bitcoin’s blockchain. While Tether has traditionally operated on the Omni Layer of Bitcoin, the United States dollar-backed stablecoin has begun spreading to other blockchain protocols this month. Most recently, Tether is now being offered on blockchain company BlockStream’s Liquid Network sidechain, according to an official announcement on July 29. According to the announcement, Liquid-based Tether — called Liquid USDT — is being offered immediately for deposits and withdrawals on Bitfinex. Additionally, the staff at Liquid are reportedly developing support for Liquid USDT on a number of other affiliated crypto exchanges, including OKEx, …