Lightning Labs releases Taproot Assets alpha, bringing stablecoins to Bitcoin and other 1 inch, bat, ankr, atom, algo, amp, ai, ach crypto today.
Lightning Labs releases Taproot Assets alpha, bringing stablecoins to Bitcoin

Taproot Assets: A Protocol for Stablecoins and Real-World Assets

Lightning Labs, a Bitcoin layer-2 infrastructure firm, has released the mainnet alpha of Taproot Assets, a protocol that enables stablecoins and real-world assets to be issued on the Bitcoin and Lightning Network. According to Ryan Gentry, head of business development at Lightning Labs, the current version, Taproot Assets v0.3, provides a “feature-complete developer experience” to issue, manage and explore stablecoins and other assets on the Bitcoin blockchain.

“Today marks a new era of multi-asset bitcoin,” Lightning Labs stated on Oct. 18 in a separate post. This version of Taproot Assets will work by routing through existing Bitcoin liquidity on the Lightning Network.

The protocol is designed to facilitate the issuance of a variety of crypto assets, such as 1 inch crypto today, bat crypto today, ankr crypto today, alpha crypto, atom crypto today, algo crypto today, amp today crypto, ai in today, ach crypto today, and about crypto today.

Integrating Bitcoin with Stablecoins

According to Gentry, the integration of Bitcoin with stablecoins will extend the network effects of the cryptocurrency and move it closer to “bitcoinizing the dollar”. He further noted that the demand for stablecoin applications on Bitcoin is “overwhelming” due to the fact that some stablecoin issuers have more United States Treasuries than countries like Germany and South Korea, which “signifies the importance of these assets globally, and gives a sense of scale for the global user demand”.

In preparation for the mainnet alpha launch, nearly 2,000 Taproot Assets have been minted on testnets over the last several months, as per Gentry.

Alpha crypto launches typically point to the fact that the development isn’t in its final state. Lightning Labs mentioned that the alpha tag indicates that they expect the community to test it for potential bugs.

Bitcoin Drivechains (through Bitcoin Improvement Proposal-300), Botanix Labs’ Spiderchain, the BitVM and other developments in the Bitcoin ecosystem are looking to expand Bitcoin’s capabilities, such as Atom crypto today, Algo crypto today, AMP today crypto, ACH crypto today and more.

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