Liquid Network
Also · Liquid · L-BTC · Elements
Liquid is a federated Bitcoin sidechain run by Blockstream and a federation of 15 functionaries. It offers 1-minute blocks, confidential amounts and asset issuance, in exchange for trusting the federation.
Liquid, live since 2018, is built on Elements, a fork of Bitcoin Core. A federation of exchanges, trading desks and infrastructure firms signs blocks every minute and holds the pegged bitcoin in an 11-of-15 multisig secured by hardware modules. Users peg in BTC to receive L-BTC, trade or issue assets such as stablecoins with amounts hidden by confidential transactions, and peg out through federation members or swap services.
It is a tool for traders and issuers more than for everyday payments, and it is honest about its model. L-BTC is a claim on the federation, not bitcoin. In September 2026 a bug in Elements allowed L-BTC to be created without backing and withdrawn as BTC, most of which was later returned, a reminder that sidechain software carries its own risks. Withdrawals to Bitcoin have been resuming in stages since 20 October 2026.
In French · Liquid Network
