b0xxer/web
1
0
Fork 0
Code Issues Pull Requests Packages Projects Releases Wiki Activity

Update docs/liquid/liquid-part3.md

Browse Source
This commit is contained in:
b0xxer 2024-02-05 06:13:24 -06:00
parent e8189148cf
commit 20769ff3fa
1 changed files with 14 additions and 6 deletions
Show Stats Download Patch File Download Diff File Expand all files Collapse all files

20
docs/liquid/liquid-part3.md
View File

@ -192,10 +192,17 @@ The basic process for creating your own sidechain would be:
* Install elements
* Wipe out sidechain data files
* Decide on node discovery ports and search methods (modify )
*
* Set your own n-of-m block signing method and set this config files [^8]
* Set your own n-of-m Peg-in script and set this in config file [^9]
* Decide on node discovery ports and search methods (modify node seed list and ports in config)
* Set your sidechain name in config file (replace `-chain=liquidv1` option with custom name)[^8]
* Set your own n-of-m block signing method and set this config files [^9]
* Set your own n-of-m Peg-in script and set this in config file [^10]
* Set `initialfreecoins` to 0 in config file
* Set `defaultpeggedassetname` if you want it to be something other than bitcoin
* Set `initialreissuancetokens` to non-zero so you can issue default assets as peg-ins happen
* Provide config options to connect to BTC node to watch for pegins
In theory, you should now
[^1]: BlockStream Green, AQUA, Anser (web wallet), Specter, Marina (web wallet)
[^2]: Atomic Swaps allow parties to exchange different tokens directly without the need for a 3rd party, eliminating most of the risk of fraud and counterparty default.In fact, Blockstream has a tool to simplify using it.
@ -204,5 +211,6 @@ The basic process for creating your own sidechain would be:
[^5]: They are using services like Boltz, which allows you to open Lightning Channels with L-BTC. NOTE: [BTCSessions did a great video/review](https://www.youtube.com/watch?v=5kNMJd-Ts2c) of how to use Liquid as a way to very cheaply onboard from fiat as cheap as possible. Summary is Fiat -> CEX -> BTC -> Liquid -> Boltz -> LN. Obviously if your CEX has a LN withdrawal option you don't need all these steps!)
[^6]: Right now fee rate is quite low at 30vb/sat, this figure could easily double or triple!
[^7]: Its worth noting that the Liquid Federation members - as a group - tends to be a collection the most pro-bitcoin focused comanies in the ecosystem.
[^8]: [https://elementsproject.org/elements-code-tutorial/block-creation](https://elementsproject.org/elements-code-tutorial/block-creation)
[^9]: [https://elementsproject.org/elements-code-tutorial/sidechain](https://elementsproject.org/elements-code-tutorial/sidechain)
[^8]: [https://github.com/ElementsProject/elements/blob/master/README.md](https://github.com/ElementsProject/elements/blob/master/README.md)
[^9]: [https://elementsproject.org/elements-code-tutorial/block-creation](https://elementsproject.org/elements-code-tutorial/block-creation)
[^10]: [https://elementsproject.org/elements-code-tutorial/sidechain](https://elementsproject.org/elements-code-tutorial/sidechain)