Tether will launch USDT tokens on Liquid sidechain

Another version of the stablebing USDT project Tether will appear on the Bitcoin sidechain Liquid Network, which is supported by the company Blockstream.

Liquid Sidechain will become the sixth chain, in which USDT tokens are circulated, and the second version of the token on the Bitcoin blockchain. Now the USDT has already been released on the Ethereum, Tron and EOS blockchains, the release of the token on the Algorand blockchain is being tested. And the first and still the main carrier of the USDT remains the Omni Layer network, which is a superstructure over the Bitcoin blockchain.

The Tether token will make the company Liquid Netwok’s internal token, which is called L-BTC and is equivalent to the bitcoins assigned to sidechain. Blockstream and Tether are going to use sidechain to conduct fast atomic swaps between these tokens.

If the experience is successful, these operations will significantly accelerate the exchange of bitcoins between major exchanges and OTC platforms, which is especially useful for arbitrage traders. Liquid USDt is already open for entry and exit on the Bitfinex exchange. According to the press release, the initiative was supported by several more sites: BTSE, BTCTrader, OKEx, OKCoin, RenrenBit and Sideshift AI.

Samsstream Mou, Blockstream’s Technical Director, writes that USDT based on Liquid will provide faster confirmation, support for confidential transactions, multilateral signatures with 2FA support and priority transaction management. For the most convenient and secure handling of these tokens, he recommends using a Blockstream Green wallet, which has all the necessary functions to fully work with Liquid sidechain. Also, support for new assets will soon receive a hardware Trezor wallet.