According to the press release of a blockchain platform Blockstream has launched a new Liquid Swap tool that will enable the developers to carry out the atomic swaps on the Liquid Network for assets including the assets that are tokenized, digital assets, Lightning –Bitcoin and so on.
Previously, Blockstream announced its sidechain prototype in 2015, one of its flagship projects, and shortly after the announcement, launched that officially as a Liquid Network. A side chain solution for Bitcoin, built to accelerate the transactions that are inter-exchange, thereby enabling instant asset transfer between the exchanges.
The new Liquid Swap tool is a simple desktop application of GUI and CLI that is on standalone mode; this application enables any two parties that are involved to swap any issued asset on the liquid network in one transaction through swap messages that are encoded
We’re excited to announce the Liquid Swap Tool. This new tool allows users to execute atomic swaps on the #LiquidNetwork for any issued asset such as L-BTC, tokenized fiat, crypto assets, attested assets, & more. GUI & CLI tool are now available. https://t.co/yxdZwltLR3 pic.twitter.com/abS3ZztfO5
— Blockstream (@Blockstream) July 1, 2019
According to claims made by Blockstream, the liquid Network is already being used by a large number of Blockstream users including some top-notch clients such as OKCoin, BitMEX, and Bitfinex. Millions of the end-users could benefit from this new Liquid Swap tool.
Blockstream’s launch of this new Liquid Swap tool has virtually opened doors for financial organizations that were previously looking for swapping the assets quickly and internally without them being exposed to any third-party exchanges. This new tool will likely enable many people to begin using the sidechain Liquid Network its issued assets, thereby strengthening the Blockstream project.