Liquid is a sidechain of Bitcoin. A sidechain is a blockchain that is attached to a parent blockchain using a two-way peg. A sidechain may have one or many functionalities which are not available on the mainchain itself. With regards to Liquid, there are a few notable features, such as:
Bitcoin used in the Liquid Network is referred to as L-BTC, and each L-BTC has a verifiably equivalent amount of BTC secured by the Liquid members called functionaries.
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