We are very excited to share that Specter Desktop and Specter DIY Hardware Wallet users can now transact on the Liquid Network for faster settlement times, lower fees, and more confidential bitcoin.
In addition to supporting Liquid Bitcoin (L-BTC) and other Liquid-based assets, users can connect their own Liquid node to create multisig wallets with a variety of signature combinations for greater security and privacy.
Specter’s desktop and hardware wallet solutions also support singlesig wallets on Blockstream Jade with multisig planned at a later release, along with more features.
Specter Desktop and Multisig Use Cases
Specter Desktop is popular among everyday Bitcoiners for its simple, easy-to-navigate interface and wallet capabilities. With the Liquid integration, users can create multisig wallets in-app and the DIY hardware wallet to store their L-BTC and other Liquid assets, such as stablecoins.
Users can also employ multi-party multisig setups on Specter for added security and a unique set of use cases. The more co-signers required on a transaction, the more distributed the decision-making process can be. This is an excellent solution when setting up a shared account for a family trust or business transactions like a real estate sale requiring an escrow account between two parties or more.
Optimize Protection with Air-Gapping
When using Blockstream Jade or the Specter DIY hardware wallet on Specter Desktop, users can scan addresses via QR code while never connecting to the internet. This added layer of protection is called air-gapping and ensures that no malware or virus can infect your hardware wallets through USB and gain access to your private keys.
Fungible and Private Transactions on Liquid
First launched in 2018, the Liquid Network is a layer-2 solution that makes Bitcoin more fungible and private.
Every asset issued on Liquid is interoperable, enabling atomic swaps and multisig between assets like stablecoins and L-BTC. This fungibility builds greater network liquidity and security.
By default, all transactions on Liquid are also blinded publicly through Confidential Transactions (CT), a cryptographic protocol that keeps the asset amount and type (L-BTC, stablecoins, security tokens, etc.) transacted visible only to the parties involved.
CT provides Bitcoin with some cash-like properties, which is especially useful against the risk of front-running (see Whale Alert) or revealing sensitive financial information to competitors. It is equally beneficial when trading financial instruments like security tokens where accredited investors may want a discrete point of sale.
Layer-2 solutions like Liquid and the issuance of security tokens have a tremendous opportunity to build new financial market rails and more decentralized peer-to-peer marketplaces. With the support of companies like Specter, we look forward to building out this new economic ecosystem that will lead to hyperbitcoinization.
As part of the announcement, we are teaming up with Specter for a special Twitter giveaway. A lucky number of Bitcoiners will receive Specter DIY and Blockstream Jade hardware wallets and exclusive Blockstream swag, including a t-shirt and hat.
If you are new to the Bitcoin space or just someone ready to take the next step in self-sovereignty, you can install Specter Desktop and download Bitcoin Core and Liquid (Elements). As you go through the prompts and should have questions, we suggest heading over to the Specter Community Telegram or reviewing some of their tutorial videos on YouTube to become more familiar.
To get your hands on some L-BTC and begin hodling and transacting on Specter, we recommend this general how-to guide. Some of our favorite methods are the web wallet Coinos (zero fees) and SideSwap, where you can peg-in BTC for L-BTC or trade peer-to-peer.