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0 sats \ 2 replies \ @creativityisoverrated 6 Jul \ on: New Bitcoin sidechain (Sequentia) launches demo signet bitcoin
Is there an easy way or article that explains how tokens are issued? Maybe it’s a stupid question but I couldn’t help.
I understand that there isn’t a multisig peg-in/peg-out system and Sequentia is a “slavechain”, but I don’t understand this alternative method.
Tokens will be issued in the same way as they are on Liquid, in fact the initial version of Sequentia that will be launched in a few months will be almost identical to Liquid in every way except that:
- You can propose transaction fees using any token issued on Sequentia, it doesn't need to be a specific pegged Bitcoin like L-BTC, and it can actually be any other token, such as USDT
- Unlike Liquid or other existing sidechains, Sequentia will support making p2p swaps with real BTC (on the mainchain or on LN) in real-time, so you won't necessarily need to ever have any kind of representation of BTC on the sidechain.
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Also, if you check out the Sequentia signet walkthrough it will guide you on issuing an asset on Sequentia, paying tx fees using it, issuing a second asset and transferring asset 1 with fees paid in asset 2, and even using RBF to change the proposed tx fee asset in an unconfirmed transaction.
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