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🦁Reza⚡️ Jul 29
Next up 🔜 Tether on Lighting ⚡️⚡️
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Adam Back Jul 29
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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🦁Reza⚡️ Jul 29
Replying to @adam3us @Blockstream
Very useful for arbitragers, this should really decrease the spread across different exchanges and make the entire market much more efficient
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Adam Back Jul 29
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 Jul 29
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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🦁Reza⚡️ Jul 29
Replying to @adam3us @Blockstream
Is it possible for an LN payment to fall back to a Liquid payment ?
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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 Jul 29
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 Jul 29
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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Federico Tenga Jul 29
Even if Liquid was perfectly decentralised I would still see it as an alternative layer 1 blockchain, not a 2nd layer on top of the Bitcoin base layer. Even the term sidechain suggests that it is not above Bitcoin like LN, but on the side
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Adam Back Jul 29
I guess that's why liked layer 1.5 in some ways it's to one side, in other ways it's a layer above (it uses Bitcoin from layer1, and does peg in and peg out to the base-layer, Bitcoin).
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Samson Mow Jul 29
Exactly. It occupies a unique space and confers unique properties. Easier for most people to contextualize as 1.5.
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🌊⚡wampum Jul 29
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 Jul 29
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 ₿  ⚡️ Jul 29
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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🦁Reza⚡️ Jul 29
Imagine the lightning network as a software running on top of bitcoin. Lightning on Liquid is just that software running on top of Liquid side chain instead of bitcoin mainchain
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TheB⚡gCohooNah Jul 29
I assume we will get a demo sometime in the future?
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Anders⚡HyperBTC before 2027 Jul 29
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