Tether transferred 15 million USDT tokens to Liquid network for more anonymous transfers

Crypto News | Cryptocurrencies

On January 7, Tether, the stablecoin issuer, transferred 15 million USDT from its reserves on the Ethereum blockchain to Blockstream’s Liquid network, which is a federated bitcoin sidechain. The technical feasibility of such a swap was first announced in July 2019.

Важное отличие Liquid от других блокчейнов заключается в поддержке активов, которые позволяют скрыть значения в публичном реестре при помощи протокола «конфиденциальных транзакций». Переводя Tether между биржевыми счетами через Liquid, трейдеры смогут избежать раскрытия информации о своих намерениях перед остальными участниками рынка.

“Tether translations are generally traceable. The same applies to transfers to and from exchanges. People obviously use this information in the bidding process. The transition from the blockchain, where transactions are carried out transparently, to Liquid is an elementary decision in the context of trading, ”Blockstream Grubles, PR manager, told CoinDesk.

Blockstream CTO Samson Moe noted that Liquid-based Tether could be the first example of a semi-private stablecoin.

“Money-tracking services such as Whale Alert do not work with confidential assets on Liquid,” he explained.

At the same time, the Tether emission in the Blockstream system remains public, which can help dispel skeptics’ doubts.

According to Tether Technical Director Paolo Ardoino, customer interest in confidential transactions led the company to decide to transfer $ 15 million from the Ethereum network to Liquid:

“With confidential transactions, you cannot see the amount transferred from one participant to another. This means that the USDTs released on the Liquid network provide better privacy than other chains. ”