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21 sats \ 1 reply \ @0xbitcoiner 18 Jul \ on: Sequentia: A Bitcoin sidechain that doesn't need a peg/bridge bitcoin
Hello! What are the downsides of this compared to LN? Thanks
Not in the same category at all! Lightning is a payments network, Sequentia is a tokenized assets network, both are interoperable in the following senses :
- You can use Bitcoin on LN to buy(*) assets issued on Sequentia (submarine swaps)
- You can load assets issued on Sequentia to LN channels of their own
- You can use Bitcoin on LN to buy(*) assets issued on Sequentia which have been loaded into LN channels of their own (lightning swaps)
- You can perform multi-hop asset payments, ie Sequentia assets loaded to LN can "travel" through BTC channels and vice versa; growing lightning on Sequentia helps BTC payments and vice versa
That last feature was pioneered by Taproot Assets (https://x.com/roasbeef/status/1788624974728790471). However, Taproot Assets relies on committing data to the Bitcoin blockchain directly, whereas Sequentia is a separate chain which doesn't "pollute" Bitcoin blockspace.
(*) swap between chains, p2p and in real-time
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