Liquid Network – Blockstream’s first Bitcoin sidechain, will be integrated on Canadian-based Bull Bitcoin exchange.
According to the announcement made by Liquid Exchange CEO Francis Pouliot, Bull Bitcoin now joins the list of other exchanges that use the sidechain, including Bitfinex, BITMEX, and OKCoin. The CEO was speaking in an interview at the Baltic Honeybadger conference in Riga. He said the integration would provide the first step for the exchange to admit L-BTC payments.
“This is fairly easy actually from a technical standpoint because Liquid core elements, which is the software is like a fork of Bitcoin core. So if you’re able to integrate Bitcoin core in your business to generate addresses, then receive payments, send payments, you know, integrating Liquid is not different.”
Interaction with Other exchanges
By including Liquid Network, Bull exchange will be able to provide faster Bitcoin transactions while linking up with other exchanges on the same network. Besides, it will solve the liquidity problem in Canada, which has made users trade on non-custodian platforms.
Pouliot also mentioned the course Bull Bitcoin will take to integrate Liquid on their platform. He said they would start by first integrating elements software in cipher nodes, which are like the Bitcoin back-end of Bull Bitcoin but open-source that anybody can utilize.
The Bull Bitcoin’s integration will be launched in 2020 when the exchange will issue its own asset on the Liquid Network. The Bull Bitcoin token – L-CAD will be attached to the Canadian dollar. It will be used as a voucher from the exchange for buying Bitcoin.
What Is Liquid Network?
Liquid Network is a unified trading platform that gives traders the opportunity to grow their portfolio from a single dashboard. The revolutionary World Book makes it seamless and accessible, allowing users to trade in the quote currency of their choices with tight spreads and improved liquidity.
Featured image: blockstream.com