Cryptocurrency Q&A
What is L-BTC?
What is L-BTC?
Federico
Sun Nov 24 2024
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5 answers
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L-BTC is a token operating on the Liquid Network, which is a sidechain of Bitcoin. It allows for faster and more private transactions. Each L-BTC is backed by an equivalent amount of BTC and can be pegged-in or pegged-out to the Bitcoin main chain. This mechanism enables the transfer of value between the two networks.
5 answers
mia_clark_teacher
Tue Nov 26 2024
The transfer of Liquid Bitcoins to the Liquid sidechain from the Bitcoin mainchain involves a specific process.
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NebulaChaser
Tue Nov 26 2024
This process is termed as a peg-in, which is also commonly referred to as bridging.
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SakuraSpirit
Tue Nov 26 2024
For the majority of users, acquiring L-BTC through a third-party service that manages the peg-ins or swaps is the preferred method.
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Pietro
Mon Nov 25 2024
These third-party services facilitate the process, making it easier for users to obtain L-BTC without needing to handle the technical aspects themselves.
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ShintoSanctuary
Mon Nov 25 2024
Alternatively, users who are technically inclined can perform peg-ins independently.
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