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Devs Update Taproot Assets Protocol for LN

ByLouis Adams

May 18, 2023 #Blockchain
Reading time: < 1 minute

Lightning Labs has released version 0.2 of the Taproot Assets protocol (formerly known as Taro), which enables the issuance of assets on the Bitcoin blockchain and the Lightning Network (LN).

The solution is now available on the LN testnet with a basic feature set for application developers, with mainnet support coming soon.

This protocol was made possible by the activation of the Taproot update on the Bitcoin blockchain in 2022.

The protocol has been designed to run as autonomously as possible, to avoid the congestions that have been seen on the blockchain recently.

This release allows for an unlimited number of assets to be created and/or moved in a single transaction.

The team is working towards its goal of making the LN a multi-asset network, with support for stablecoins for emerging markets.