{"id":13744,"date":"2021-10-20T13:00:00","date_gmt":"2021-10-20T13:00:00","guid":{"rendered":"http:\/\/ci02901c57c00025e7"},"modified":"2021-10-20T13:00:00","modified_gmt":"2021-10-20T13:00:00","slug":"specter-integrates-liquid-network-bitcoin-sidechain","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/specter-integrates-liquid-network-bitcoin-sidechain","title":{"rendered":"Bitcoin Wallet Specter Integrates Liquid Sidechain Network"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><p>Specter Solutions has integrated the Liquid Bitcoin sidechain network into its desktop and hardware wallet solutions and added support for Blockstream&#8217;s hardware wallet Jade, according to a release sent to <em>Bitcoin Magazine<\/em>. The integration will enable Specter users to transact in the Liquid Network with Jade and Specter hardware wallets.<\/p>\n<p>  &#8220;At Blockstream, we believe self-custody is a fundamental element of Bitcoin,&#8221; said Samson Mow, Chief Strategy Officer at Blockstream. &#8220;Running a node, whether it is Bitcoin itself or a layer-2 solution like Liquid or Lightning, unlocks the full potential of the asset and the ability to self-bank. We look forward to continuing our work with Specter to help make running a node more accessible and enjoyable for the everyday Bitcoiner.&#8221;<\/p>\n<p>Liquid is a <a href=\"https:\/\/bitcoinmagazine.com\/technical\/blockstream-adds-six-members-to-liquid-federation\">federated<\/a> sidechain of Bitcoin, meaning it is a separate blockchain network, different from Lightning which runs on top of the Bitcoin blockchain as a layer-2 solution. Blockstream created Liquid to empower traders and exchanges with faster and confidential transactions and the ability to <a href=\"https:\/\/bitcoinmagazine.com\/business\/raretoshi-nfts-on-liquid-bitcoin-sidechain\">issue digital assets<\/a> at the expense of a few tradeoffs.<\/p>\n<p>Liquid allows bitcoin to flow between the Liquid and Bitcoin networks with a two-way peg. Bitcoin used in the Liquid network is referred to as L-BTC, and its verifiably equivalent amount of BTC is managed and secured by the network&#8217;s members, called functionaries.<\/p>\n<p>However, functionaries can be interpreted as requiring trust in third parties because although full nodes can ensure functionaries&#8217; correct behavior by verifying transactions and peg-ins, only functionaries have the power to secure the network.<\/p>\n<p>The uprising of different options for users to interact with and leverage the Bitcoin network is a net positive, but the tradeoffs are essential to understand. Liquid is a meaningful tool for a particular set of <a href=\"https:\/\/docs.blockstream.com\/liquid\/technical_overview.html#liquid-use-cases\" target=\"_blank\" rel=\"noopener\">use cases<\/a>, primarily for exchanges and high-frequency traders. Still, everyday users might be put off by the introduction of trust and permission into pegging in and out of a BTC IOU&nbsp;<em>\u2014<\/em>&nbsp;which goes against some <a href=\"https:\/\/en.bitcoin.it\/wiki\/Principles_of_Bitcoin\" target=\"_blank\" rel=\"noopener\">principles of Bitcoin<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Users can now transact on the Liquid Network with the software and hardware Specter wallets.<\/p>\n","protected":false},"author":2572,"featured_media":13745,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[151,2732,1958],"class_list":{"0":"post-13744","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-liquid","9":"tag-sidechain","10":"tag-specter"},"author_data":{"id":2572,"name":"Namcios","nicename":"namcios","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/pfp-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/20211017_specter_blockstream1920x1080px.png","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/13744","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/2572"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=13744"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/13744\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/13745"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=13744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=13744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=13744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}