Bitcoin Magazine

Blockstream Debuts Swaps, Allowing Bitcoiners to Move Between Lightning and Main Network With Ease

Bitcoin infrastructure company Blockstream has announced a new feature allowing users to make trustless swaps. 

Dubbed Blockstream Swaps, the idea is that Bitcoiners will be able to quickly move between the main chain and Lightning network. 

It comes after non-custodial Bitcoin swap provider Boltz suspended its service after it said attackers were finding vulnerabilities faster than its team could fix using AI. 

“In support of the broader Bitcoin and Liquid ecosystem, Blockstream is launching Blockstream Swaps,” Blockstream said. 

“This initiative was already under development to ensure a resilient suite of utility for the ecosystem, and it complements the providers already doing this work rather than replacing any one of them.”

The idea, added Blockstream, is users can move funds across layers while never losing full control over their funds.

To use Lightning, users will not need to run a node or channel — as is normally needed with Lightning — and can simply hold a Bitcoin or LBTC balance and let a swap convert at the moment of payment.

LBTC is the native asset of the Liquid Network, a Bitcoin layer-2 sidechain created by Blockstream. 

“This initiative was already under development to ensure a resilient suite of utility for the ecosystem, and it complements the providers already doing this work rather than replacing any one of them,” added Blocksteam’s announcement. 

Boltz this month suspended its Bitcoin swap service. It said that a surge in AI-assisted attacks left it unable to continue operating safely.

Crypto hacks have surged, with security experts warning that cybercriminals are using AI to search for bugs in crypto projects and then take advantage of errors auditors may have missed.

This post Blockstream Debuts Swaps, Allowing Bitcoiners to Move Between Lightning and Main Network With Ease first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.

Source: BitcoinMagazine