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Adam Back 29 Jul 19
Replying to @r32a_ @Blockstream
No joke, here's the guide for C-Lightning on Liquid (L-BTC only so far, but arbitrary assets, including L-USDt in the works).
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Adam Back 29 Jul 19
Replying to @r32a_ @Blockstream
You bet. 1-2mins deposit/withdraw/transfer. (1min block time, 2blocks is final due to use of BGP consensus algorithm not involving probabilistic mining, just federation block-signers).
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Adam Back 29 Jul 19
Replying to @r32a_ @Blockstream
note you want to use Liquid (1-2mins) not Lightning (sub-second) generally because exchange trading places spiky demands on deposits/withdraws/transfers, so will tend to overflow liquidity in the channels and have a low cache hit-rate in Lightning and fall back to main-chain.
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Adam Back
yes. that's what the linked medium article was about, Lightning on top of Liquid. it's not so widely known but Lightning protocol is designed to work across multiple chains. the demo was L-BTC but could be BTC on one channel hop and L-BTC on another. and route other liquid assets
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Federico Tenga 29 Jul 19
Shouldn't Liquid just be considered another layer 1 alternative to the Bitcoin blockchain? Differently from LN and Counterparty, Liquid transactions to not leverage Bitcoin security, it's a completely separate system
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Adam Back 29 Jul 19
Well there is an automated interaction it is just federated, and partly hardware; but sidechains are likely to become more decentralised as tech improves. timestamping liquid blocks should be relatively straight-forward for finality already.
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⚡on🌊farrrrrmerWampum 29 Jul 19
So you will be able to pay USDt lightning invoice directly, with a peer routing BTC to liquid USDt?
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Adam Back 29 Jul 19
so far L-BTC to L-BTC with C-Lightning in this demo you can try out but with some more work in progress, yes.
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Jon₿ 29 Jul 19
An animation would be required for me to understand lightning over liquid and other chains... I don't quite get it.
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arashi 嵐 #bitcoin Apr 28
LN can work on top of any chain as long as it's possible to construct a transaction describing payment channel rules on that chain. LN doesn't have it's own tokens, it simply manages contracts that are native to the underlying chain.
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₿⚡gCohooNah 29 Jul 19
I assume we will get a demo sometime in the future?
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Anders, next top Q1 2022⚡But bankrun incoming 2026 29 Jul 19
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