Lightning Labs announced that the latest version of the Bitcoin Taproot Assets protocol is currently in the testnet phase — enabling multi-asset support via the Lightning Network.
The company said the protocol had been a year in the making, initially launching under Taro. A firm date for mainnet release was not given, only that the final product will be “coming soon.”
The Taproot Assets protocol
A Taproot Assets guide further detailed information on the protocol — which intends to foster greater Bitcoin use by adding quick, cheap, and scalable asset issuance capabilities to the network.
“Taproot Assets (formerly Taro) is a new Taproot-powered protocol for issuing assets on the bitcoin blockchain that can be transferred over the Lightning Network for instant, high volume, low fee transactions.”
As indicated by the name, Taproot Assets utilizes improvements to the Bitcoin protocol that came with the November 2021 Taproot soft fork.
In brief, developers can embed arbitrary ass
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