Blockstream launches "Liquid swap tool" that can reduce Bitcoin tx fees

posted 8 months ago
An industry pioneer in cutting edge Bitcoin and blockchain technology, Blockstream, announced a new tool which allows users to execute atomic swaps on the Liquid Network for any issued crypto asset. Blockstream is touted as the world’s first production Bitcoin sidechain “The Liquid Network provides fast, secure, and confidential transactions to address the needs of exchanges, brokers, market makers, and financial institutions around the world.”

Bitcoin enters the Liquid Network through a peg-in process, where BTC is locked on the main chain and an equal amount of Liquid Bitcoin, L-BTC, is issued on the network. Exchanges are currently looking into using Liquid sidechain technology to reduce its impact on the Bitcoin mempool and reduce transaction fees. Users need to be running Liquid before they set up a node which can accept connections from the Swap Tool.
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