Tether transferred 15 million USDT from the Ethereum blockchain to the Bitcoin Liquid sidechain. This led to a lively discussionregarding the advantages and disadvantages of Blockstream technology.
</p>Protocol-Based Confidential AssetsConfidential Transactions will help hide the amount of USDT transfers between wallets. According to representatives of Blockstream and their supporters, traders actively use information about large transfers of the dominant stablecoin for speculation.
Despite the fact that the total number of tokens issued to Liquid remains public, some observers have already predicted the migration of USDT from Ethereum to the sidechain in search of more privacy.
</p>Not everyone has agreed with the statement that Ethereum has privacy issues. An example was the tornado.cash service.
</p>Some users were indignant that nobody was sodid not actively cover the migration of 2.2 billion USDT from Bitcoin to Ethereum last year, although this was potentially the largest shift in economic activity in the history of the industry.
</p>Developer Bruce Weiner suggested thatLiquid's privacy will only worsen the situation with money laundering through Tether. He called the sidechain a «trash fork of Bitcoin», and the Confidential Transactions technology— burglary
</p>He is confident that hiding transaction amounts makes the network vulnerable to spam due to the inability to limit the distribution of so-called “dust.”
Let us remember that earlier Vitalik Buterin advised the developer to create a decentralized social network on “shitty sidechains”, and then switch to the ready-made Ethereum 2.0.
Liquidt's support for USDT was announced last summer.
