- Lightning Labs updated the Taproot protocol
- It will allow you to create BRC-20 tokens without network load
Lightning Labs has proposed a solution to the problem of increasing load on the Bitcoin network. They updated the version of the Taproot Assets Protocol.
Unlike its competitors, the new protocol moves most of its operations off-chain. The Lightning Network infrastructure helps with this.
The company called on all BTC and Lightning developers to test the code and start creating Taproot assets. There will be tools like vPSBT to send and receive coins, Universe API to discover assets, and multi-asset transactions to save space on the blockchain.
Users of the protocol will soon be able to transfer their BRC-20 assets to the Lightning Network. Moreover, it does not matter where they are now stored – on custodial wallets or exchanges. Such integration is much easier than “launching a new ecosystem” from scratch.
Recall that earlier Lightning Network from Lightning Labs called their protocol Taro. Now they have been renamed to Taproot Assets. The reason for the rebranding was a lawsuit from another developer, Tari Labs.
The update came just in time. The Bitcoin network is currently experiencing massive congestion due to the growing popularity of BRC-20 tokens under the Ordinals protocol.
