The post Taproot Assets on Lightning Released to Improve Speed, Usability, and Security appeared on BitcoinEthereumNews.com.

Key Points: Lightning Labs has introduced Taproot Assets on Lightning Network. Taproot Assets leverages existing Bitcoin liquidity and routing nodes to enhance multi-asset transactions. The protocol aims to improve speed, security, and usability for stablecoin users. Lightning Labs has announced the launch of Taproot Assets on Lightning. Read more: MicroStrategy Adopts Bitcoin Lightning Addresses For All Company Emails Lightning Labs Debuts Taproot Assets on Lightning Taproot Assets is a protocol that allows the native issuance of stablecoins and real-world assets on Bitcoin and the Lightning Network. The Taproot Assets on Lightning, available in v0.4, focuses on functionality by making available to users these assets within its ecosystem. Taproot Assets will provide a natively comprehensive set of tools for managing and exploring stablecoins and other assets on the Bitcoin blockchain. According to Ryan Gentry, Head of Business Development at Lightning Labs, it helps asset issuers tap into the currently existing infrastructure of more than 5,400 Bitcoins allocated to the Lightning Network itself. It uses Bitcoin as a global routing currency and leverages the liquidity and routing nodes that already exist within the network. It is expected to give a great boost to Taproot Assets adoption, as it would let devs create Lightning channels in any asset denomination, interoperable with the current Lightning Network. Taproot Assets to Improve Stablecoin Transactions Gentry opened up about the global demand for stablecoins, in particular in emerging markets, then he shed some light on how Taproot Assets on Lightning will enhance speed, security, and user experience. Broadly speaking, Lighting Labs envisions a future wherein foreign exchange transactions be settled over the Lighting Network. One of the big asks from developers around stablecoin integration, it claims, is being solved. While previous Bitcoin network upgrades, such as the ability to issue BRC-20 tokens through the Ordinals protocol, were…

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Filed under: News - @ July 24, 2024 2:24 am