The developer of bitcoin and blockchain solutions company Blockstream presented Issued Assets (IA) is a new tool that allows users to create their own licenzirovanie assets sidechained Liquid.
We are excited to introduce #IssuedAssets on Liquid! Users will be able to issue assets representing existing financial instruments such as tokenized fiat #crypto assets, gold coins, & completely new assets all on a secure #Bitcoin-backed #sidechain. ⛓ https://t.co/PkE1PnlGrK pic.twitter.com/lXSfJR64Mn
— Blockstream (@Blockstream) 2 July 2018
As they say in the company message, these assets can show how existing financial instruments (licenzirovanie Fiat, scriptactive, certified assets such as gold coins), and brand new assets. Transactions are carried out with the help of technology Confidential Transactions (Confidential transaction), which allows the forwarded amount and type of the asset is visible only to the immediate participants in the transaction or their designated third party.
The Blockstream team demonstrated the potential of Assets Issued earlier this year, the conference Consensus 2018. With this purpose was created by five separate types of IA in the form of gift stickers, t-shirts and sweatshirts. Each asset was issued in the amount corresponding to its equivalent in the real world and randomly sent to hundreds of paper wallets, which were distributed to attendees.
Each public key of a paper wallet contained at least one, and in some cases several different assets. After you redeem a token the digital asset is destroyed.
In this simple example, the developers Blockstream has demonstrated the main features of Issued Assets:
- The release of a new asset, in any quantity;
- Sending multiple assets in a single transaction;
- The privacy with Confidential Transactions;
- The destruction of an asset;
- The possibility of creating additional quantities of the asset in the future.
According to the developers, these properties can be used to create a sidechained Liquid digital collector’s items and reward points, as well as for tomenselo.
It also opens the opportunity to use atomic swaps to trade one asset against the other without the participation requires trust of a third party. As Issued Assets and bitcoin can be both entrance and exit Liquid transactions, the exchange of bitcoin on asset or return may be made in one transaction.
The developers acknowledge the fact that today there are other technologies for production of digital tokens, however, identify the following benefits Issued Assets:
- The use of safe sidechained based on bitcoin;
- The option to hide the forwarded amount and types of assets;
- The transaction is completed within two minutes;
- Easier technical integration in a single platform that contains all representations of digital assets.
We will remind, in June the Blockstream team introduced the beta version of c-lightning (v0.6), which is one of the main implementations of the Protocol Lightning Network.