Blockstream Launches Tokenized Assets Tool on Liquid Sidechain
Users may also adopt Confidential Assets to empower private trades between blockchain assets, making sure the parties involved with a transaction will understand the strength type and worth being traded.
Blockstream previewed the tool in CoinDesk’s Consensus 2018 seminar in New York, demonstrating the way the Liquid platform could be utilized to issue five different types of IA, representing physical goods.
In the demonstration, these assets comprised tops and hoodies — and all such tokens were sent to attendees’ paper pockets. Each paper wallet had a public secret, and the owners could redeem the components for each asset it comprised. After the physical contributions were redeemed, the digital assets were destroyed.
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The firm has officially established the Issued Assets (IA) app on its own bitcoin-backed Liquid sidechain, enabling users to create their own tokenized assets, according to a media release. These tokens can represent any sort of financial instrument, such as fiat money, crypto assets or attested assets (for example, gold coins), as well as more novel kinds.
Additionally, users may run atomic swaps involving bitcoin and IA which include altcoins, meaning a bitcoin can be exchanged for an advantage in a single transaction without using intermediaries. Finalizing a transaction takes less than 2 minutes, the startup said.
Blockchain startup Blockstream declared a new custom token creation platform on Monday.
Released at Tue, 03 Jul 2018 16:55:11 +0000