ELI5
What is L-BTC aka Liquid Bitcoin?
Discussion
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Blockstream has their own private ecosystem set up. Sort of a side chain.
They call it "federated". Basically trusted people run nodes akin to Bitcoin. To participate, blockstream will match the BTC deposit with a Liquid Token. Called a peg in. Then you can use that in the Liquid system or peg out. On the way out you get a new wallet address I believe as well.
It's basically a trust chain ecosystem. Not a shit coin. More of a closed house trust.
I might have this a bit wrong but that's my understanding from memory.
Read between the lines if needed.
L-BTC is Bitcoin on the layer-2 Liquid Network. I don’t know too much about it yet although am starting to experiment with it.
Thank you buddy 💜💜
#Bitcoin layer-2 🌊
Not a critique, just a suggestion. It might be worth writing another version aimed at a less corporate audience.