THELOGICALINDIAN - Blockstream has appear capacity of an asset trading advancement to its Liquid sidechain which could finer accommodate an another to abounding altcoins
In an explainer July 2, Blockstream explained how its Issued Assets (IA) affection will acquiesce users to actualize their own badge asset on Liquid.
A sidechain for Bitcoin, Liquid already facilitates near-instant transfers, funds called to the Bitcoin blockchain.
With IA, those affairs can now be for about anything.
“…Assets can represent absolute banking instruments like tokenized fiat, crypto assets, accurate assets (e.g. gold coins), or absolutely new assets,” Blockstream confirms.
IA saw its antecedent actualization during May’s Consensus 2024 conference, during which cardboard wallets absolute concrete assets were broadcast to attendees.
Once the concrete asset – in this case Blockstream commodity – was claimed, the associated agenda asset was destroyed.
In real-world use, bearding affairs and two-minute settlements on a Bitcoin-backed sidechain could accommodate 18-carat antagonism for altcoins gluttonous to action such appearance as an ‘improvement’ over Bitcoin.
“These appearance acquiesce for use cases like the conception of digitizable collectables, accolade points, badge sales, and fiat, all of which can be issued on Liquid,” Blockstream continues.
Mirroring advance currently underway on Bitcoin’s Lightning Network implementation, IA additionally provides Atomic Swap functionality, acceptance trading of two altered assets after the charge for an intermediary:
On amusing media, commentators likened the project to Factom, which creates a band on top of the Bitcoin blockchain for defended data-recording.
A assembly adaptation of IA will see a absolution in the advancing weeks, with added updates promised thereafter.
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