The developers presented the alpha version of the TARO protocol for Lightning Network
The developers presented the alpha version of the TARO protocol for Lightning Network
The Lightning Labs team introduced the alpha version of the TARO protocol, which allows you to release assets like stablecoins on the Bitcoin network and use them in applications based on Lightning Network (LN).
Today We’re Excited to Announce the Initial Code for Taro 🍠 ;, A New Protocol To Issue and Transfer Assets ON #BITCOIN and LIGHTNING 🔜.
With this Release, We’re One Step Closer to Bitcoinizing Core Scientific the Dollar, and the Global Financial System! 🌍💱 https: // t.Co/Mrrlyttgxv
– Lightning Labs⚡️🍠 (@Lightning) September 28, 2022
The developers announced TARO in April 2022. The launch of the protocol is possible thanks to the activation of Taproot updating in the first cryptocurrency blockchain.
The protocol allows you to create a wide range of assets, including stablecoins, and move them to LN, paying for the minimum commissions. Alpha version of the solution is available in the test network. For several months, the team will collect the opinions of developers and enthusiasts.
TARO open code was posted in the GitHub repository.
“TARO allows bitcoin and LN to be multactive. Users will be able to open TARO channels connected to the periphery and interact with the existing Lightning network. Instead of creating a new ecosystem of GCDs and liquidity, TARO will use the existing infrastructure, ”wrote Michael Levin’s chief development specialist Lightning Labs.
Recall that in June 2022, the developers added support for Taproot on the LND Lightning Client.
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