Subscribe to Our Newsletter
Thursday July 07, 2022
Bitcoin (BTC) $21,106.00   Ether (ETH) $1,232.80
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Investment Management
    • M&A
    • Mining
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
No Result
View All Result
Easily Swap USDT (TRC20) & More
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
CryptoNinjas
Home Vendor Technology

LQDEX Bridge for tokenization of non-ERC20 assets now live on testnet

Published by CryptoNinjas.net
10/18/2018
LQDEX Bridge for tokenization of non-ERC20 assets now live on testnet

LQDEX, a decentralized, cross-chain digital asset exchange today announced that its LQDEX Bridge is now live on testnet. LQDEX Bridge can be used for all Ethereum decentralized exchanges (DEX).

Bridge’s single purpose is to tokenize non-ERC20 assets.

With Bridge, for example, users will be able to trade Bitcoin, Litecoin, and others against ERC20 assets via direct integration to EtherDelta’s smart contract. LQDEX Bridge is on TestNet3 for Bitcoin and Rinkeby for Ethereum (users must have MetaMask installed to access). Trading will be live by Friday, October 19th.

LQDEX Bridge is currently supporting the following coins, to be converted to ERC20 coins:

  • Bitcoin — BTC
  • Litecoin — LTC
  • ZCash — ZEC
  • Bitcoin Cash — BCH
  • Ethereum Classic — ETC
How LQDX Bridge works

Bridge operates through economically incentivized entities called Collators to stake X amount of LQD tokens in order to accept deposits of external assets like Bitcoin, Litecoin, etc. During the initial alpha release of the LQDEX Bridge, LQDEX will act as the sole Collators and focus on exposing APIs to seek out other potential collators.

For every bitcoin (or any other asset) that is deposited into the bridge, there is an equal amount of proxy token that is minted.

Why do I need to provide an Ethereum address?

Your ERC20 version of bitcoin which LQ-BTC will be minted and sent to your Ethereum address.

What is the reason for generating a new Bitcoin address?

Bitcoin from your external wallet must be deposited first before an ERC20 LQ-BTC can be sent to your address.

What is a good external wallet for testnet?

Chain.so is the LQDEX recommended wallet for Bitcoin and Litecoin.

Remember that the LQDEX Bridge is in the alpha testing phase. The LQDEX team will be monitoring and updating issues as they are identified. Users are encouraged to contact LQDEX directly if they identify bugs. LQDEX reported that they will consider paying a bounty for critical bugs.

12
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

LQDEX integrates crypto exchange EtherDelta on LQDEX Bridge

11/05/2018
LQDEX integrates crypto exchange EtherDelta on LQDEX Bridge

LQDEX, a decentralized, trustless, cross-chain digital asset exchange has announced the direct integration of crypto exchange EtherDelta on LQDEX Bridge. Since November 1st, 2018, the LQDEX Bridge has been available on testnet. The LQDEX...

Read more
Load More
Leave Comment

Where to Exchange

Crypto services suite in Spanish Visit
European bitcoin exchange Visit
Swap & buy 150+ cryptocurrencies Visit
America's first regulated bitcoin exchange Visit
  • Trending
  • Latest
peaq launches open-source Polkadot ecosystem blockchain explorer

peaq launches open-source Polkadot ecosystem blockchain explorer

07/06/2022
vlists new USDT-based spot markets in DAI, ADA, AVAX,  LTC, FTT, LINK, and FTM

MoonXBT adds new USDT spot markets in DAI, ADA, AVAX,  LTC, FTT, LINK, and FTM

06/30/2022
Professional crypto software suite 1Token adds support for Derbit derivatives

Professional crypto software suite 1Token adds support for Deribit derivatives

07/05/2022
Asian crypto technology solutions firms ChainUp and HS88 team up to grow market

Asian crypto technology solutions firms ChainUp and HS88 team up to grow market

06/30/2022
peaq launches open-source Polkadot ecosystem blockchain explorer

peaq launches open-source Polkadot ecosystem blockchain explorer

07/06/2022
KyberSwap DEX introduces new trading leaderboard feature

KyberSwap DEX introduces new trading leaderboard feature

07/05/2022
Professional crypto software suite 1Token adds support for Derbit derivatives

Professional crypto software suite 1Token adds support for Deribit derivatives

07/05/2022
Most consequential Cardano upgrade since smart contracts readying for launch

Most consequential Cardano upgrade since smart contracts readying for launch

07/04/2022
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact
No Result
View All Result

© 2016 - 2022 CryptoNinjas Disclosures | Privacy Policy