Blockchain software developer Lightning Labs has launched its Taproot Assets protocol on the mainnet network. This protocol allows for the issuance of stablecoins and real-world assets on the Bitcoin and Lightning Network. The current version, Taproot Assets v0.3, leverages existing Bitcoin liquidity on the Lightning Network and is open for developers to test for potential bugs. The protocol aims to make Bitcoin a multi-asset network while maintaining its core values. The director of development at Lightning Labs, Ryan Gentry, believes this development marks a new era for the Bitcoin network and envisions a future where global currencies, including stablecoins, are issued as Taproot Assets. However, meeting the growing demand for stablecoins without congesting the Bitcoin network may pose a challenge. In addition to the Taproot Assets protocol, other upgrades in the Bitcoin ecosystem, such as BIP 324, Spiderchain, and BitVM, are being introduced to improve the network’s capabilities. These upgrades focus on scalability, composability, and security.

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Information	Details
Geography	Global
Countries	🇩🇪 🇺🇸
Sentiment	neutral
Relevance Score	1
People	Ryan Gentry
Companies	Spiderchain, Ethereum Virtual Machine (EVM), Lightning Labs, Bitcoin Improvement Proposal (BIP) 324, Botanix Labs
Currencies	Bitcoin
Securities	None