Liquid Bitcoin [L-BTC] gets a boost with Blockstream’s latest Liquid Core desktop wallet

On March 11, the world’s largest cryptocurrency, Bitcoin [BTC], received a boost when Blockstream announced the launch of Liquid Core, a new multi-platform desktop wallet for transacting Liquid Bitcoin.

Based on the tested Bitcoin Core, it aims to provide users with a familiar User Interface to send and receive Liquid Bitcoin and assets on the Liquid Network. The company’s blog stated:

“Liquid Core gives traders the tools to deposit and withdraw L-BTC from supporting exchanges, while also allowing them to transact between each other without the need of an intermediary.”

Blockstream said that L-BTC transacted on the Liquid Network is fully settled in two minutes, providing traders with access to much faster transactions and more efficient use of capital. The official release elucidated:

“Liquid Core has Confidential Transactions enabled by default, hiding key transaction details such as asset types and amounts from third parties. This provides much stronger privacy assurances than typical Bitcoin transactions, and reduces the risk of revealing sensitive trade information to competitors.”

Confidential transactions were first created by former Bitcoin developer Adam Back. It is a method of increasing the privacy of a transaction by “homorphically encrypting the inputs and outputs using a binding factor”.

The latest release from Blockstream witnessed several queries from the user base which were answered by Samson Mow, the CSO of Blockstream and Adam Beck. JEREMY, a cryptocurrency enthusiast had asked:

Does this mean you can use your own assets with options in the wallet or CLI?”

To this Samson Mow commented:

“Issuing Assets still needs CLI, but you can receive and send them in the UI. Labeling assets can also be done with a config file. Still a lot of work to be done for Assets.”

Adam Back added to the discussion:

“for labelling eg adding this line to liquid.conf

assetdir=8026fa969633b7b6f504f99dde71335d633b43d18314c501055fcd88b9fcb8de:Lager

labels in the UI the Lager demo asset from //liquid.beer

Blockstream was also in the news earlier when Blockstream’s satellite received an update to make it more flexible, efficient, and optimized. Back tweeted:

“This new @blockstream satellite code release broadcasts transactions before blocks, using compact blocks and a newer version of FIBRE. (transactions first was a commonly asked for #blockstreamsatellite feature). using compact blocks also reduces block transfer latency by >10x”

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