Over the last several months, the engineering team at Blockstream has been hard at work finalizing the much anticipated Dynamic Federations (DynaFed) update. The protocol upgrade for the Liquid Network introduces a range of improvements, including a number of features and improvements at the functionary level.
- Expand the number of functionaries (currently limited to 15)
- Reassign or disable the emergency keys
- Lengthen the timelock parameters to extend the safety buffer
DynaFed will also enable the Federation to add and remove functionaries without affecting network operations, enabling a more resilient sidechain.
Remember to Upgrade Your Node
Six of the 12 required functionaries are now signaling for the DynaFed hard fork with the rest expected to follow shortly in the next few weeks. Those running a Liquid node will need to upgrade to Elements v0.18.1.12 in preparation for the DynaFed hard fork to avoid service disruption.
Run Your Own Liquid Node
Anyone can participate in the network by running a full Liquid node. Operating your own node gives users the ability to send and receive Liquid-based assets, self-validate the chain, and perform peg-ins to the network, as well as make full use of Confidential Transactions.
Join the Liquid Federation
The Liquid Federation consists of 59 members made up of exchanges, trading desks, wallet service providers, and other Bitcoin-related companies. Members can perform peg-ins, peg-outs, and help validate the Liquid chain, as well as vote on board elections and network updates.
If you are interested in becoming a member of the Liquid Federation, you can apply on the Liquid Network's homepage.
