Blockstream as well as Sevenlabs collaborated with Poseidon Group while endeavoring to introduce a decentralized exchange (DEX) to provide services for Bitcoin as well as the security assets. The former two are the providers of infrastructure services for Bitcoin and their collaboration with Poseidon Group will witness the establishment of the respective exchange in Switzerland, according to a press release.
Sevenlabs and Blockstream Join Forces with Poseidon Group for a BTC DEX
The exchange named XDEX will be compatible with the assets existing within the ecosystem of Bitcoin as well as permit peer-to-peer trading while efficiently eliminating the mediators from the transfers. The utilization of the peer-to-peer infrastructure on the behalf of the present financial markets counts as a necessary step, as stated by the general counsel of XDEX – Lars Schlichting.
The launch of XDEX is considered to be a landmark during the current move toward an additionally decentralized system of finance for the rest of the financial organizations as well as trading platforms to advance, as per Schlichting. With Blockstream, the consumers will be permitted to reach Liquid Network. This is an application based on layer-2 for scaling Bitcoin, allowing the trading of BTC, stablecoins pegged into Swiss Franc and Euro, as well as the rest of the assets which are Liquid-based.
On the release, which is anticipated to take place in the 4th quarter of the present year, customers will have the capability to trade the equity token “infinite Fleet” as well as Blockstream Mining Notes. Apart from that, Blockstream is going to offer the Blockstream AMP, permitting the organization of the programmable assets via Liquid Network.
Along with this, the clients will have the ability to reach XDEX at any time because the open source protocol called TDEX is being leveraged by the joint project to let the management of Sevenlabs be carried out by the consumers. Blockstream’s CEO, Adam Back, mentioned that by taking benefit from the Asset Management Platform (AMP) of Blockstream, the decentralized protocol of TDEX, as well as the speed and confidential transfers of Liquid, a comprehensive store of Bitcoin technology is formed by XDEX.
According to the chief executive officer, it is thought to be the plan for the securities exchanges of the future along with paving the way toward the additional renovation of the conventional capital markets and disintermediation. In addition, it is considered to be the plan for the future. In the first place, XDEX will be made available as a mobile application for use on iOS and Android devices. In the meantime, the team plans to build a web-based venue in the near future in order to offer potential support for a number of other assets.
Blockstream Starts Bitcoin Mining via Tesla-Manufactured Products in Texas
Almost a month back Blockstream reportedly initiated a collaboration with Block (previously known as Square) to utilize the equipment made by Tesla for Bitcoin mining in Texas. Elon Musk’s firm “Tesla” will offer a solar array of up to 3.8 megawatts as well as a Megapack of 12 megawatts for the respective purpose.
