In Coinut, we always strive to improve our user experience for traders, and this time we are excited to introduce the new integration of the Liquid Network!
What is Blockstream Liquid Network?
The Liquid Network is a Bitcoin sidechain built by Blockstream that provides fast and private Bitcoin transactions. It was specifically invented for traders who trade on exchanges participating in the Liquid network, as it provides rapid, confidential, and secure funds transfer between the 35 participants, including major exchanges like Bitfinex and OKCoin.
What could users benefit from it?
Users no longer have to worry about privacy leaks or slow fund transfers.
- Faster Trading - Transferring Bitcoin between exchanges can be done nearly instantly due to the lowered settlement time (approximately 2 minutes).
- Enhanced Efficiency - Traders are able to improve their capital efficiency by reducing balances across multiple exchanges.
- Better Privacy - Transfer amounts will be hidden by default using Confidential Transactions to minimize the risk of others front-running trade's transactions.
In short, users can use Liquid Bitcoin, aka L-BTC, to deposit funds to Coinut from other Liquid participants. It takes much less time than to make a transfer than traditional Bitcoin transactions, which often takes more than 30 minutes.
Learn more about Blockstream Liquid Network.
Start trading at Coinut.
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