Lightning Labs has renamed the asset protocol Taro project to Taproot Assets

2023-05-17 07:54:37

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ChainCatcher news, the lightning network infrastructure company Lightning Labs has renamed its Taro project to Taproot Assets and announced the release of the latest version. Taro was originally a protocol for issuing assets on Bitcoin and the Lightning Network. The latest version will support developers in efficiently integrating the core functionality of dollar tokenization, allowing users to issue stablecoins and other assets on the Bitcoin blockchain.

According to the team, Taproot Assets is currently available on the testnet, with mainnet support coming soon.

In addition, Lightning Labs stated that the company's next step will be to propose the final specification of the protocol to the Bitcoin community through Bitcoin Improvement Proposals (BIP) and Bitcoin Lightning Improvement Proposals (bLIP) to enable Bitcoin-based asset transfers via the Lightning Network. (CoinDesk)

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