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Non-Custodial Exchange TDEX Launches Mobile App

Non-Custodial Exchange TDEX Launches Mobile App


TechnologyBitcoin

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Non-custodial exchange protocol TDEX is now available on mobile, allowing users to trade peer-to-peer using their phones.

Built by development and consulting firm SevenLabs, TDEX enables atomic swaps — a specialized smart contract for transfers without counterparty risk — to instantly settle trades without an intermediary. The service uses the Liquid Network to facilitate peer-to-peer trading.

The Liquid Network is a Bitcoin sidechain developed by Blockstream and maintained by a federation of financial institutions. Notably, atomic swaps on the network, which are also called “Liquid swaps,” do not offer the same level of permissionlessness and decentralization as atomic swaps on the Bitcoin mainchain. However, for users looking to benefit from Liquid’s Confidential Transactions and Confidential Assets features, which blind the assets and amounts involved in a transaction, TDEX may offer a convenient solution.

TDEX users can trade Liquid assets such as Liquid Bitcoin (L-BTC) and Liquid USDt without a middleman, while market makers will find dedicated tools for their purposes as well.

TDEX developer Sevenlabs joined the Liquid Federation, a consortium of finance companies that governs the Liquid sidechain, in July last year. At press time, the federation counts 58 members.

The Liquid Network was launched in 2018 in a bid to provide an alternative avenue for Bitcoin transactions carried out by traders and exchanges, specifically with the purpose to free up space on the Bitcoin blockchain for sensitive transactions during times of high traffic.

Bitcoin users can lock bitcoin up on the Bitcoin mainchain and unlock an equivalent amount of L-BTC on the Liquid sidechain to transact faster and with higher confidentiality.

At the time of writing, around 2,940 bitcoin are locked up on the Liquid Network.

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Thomas is a journalist at the BTC Times. He enjoys writing about Bitcoin, learning about Bitcoin, and HODLing bitcoin.



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