{"id":176948,"date":"2023-10-19T06:04:47","date_gmt":"2023-10-19T00:34:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=176948"},"modified":"2023-10-19T06:04:47","modified_gmt":"2023-10-19T00:34:47","slug":"lightning-labs-releases-taproot-assets-alpha-bringing-stablecoins-to-bitcoin-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/lightning-labs-releases-taproot-assets-alpha-bringing-stablecoins-to-bitcoin-crypto-news\/","title":{"rendered":"Lightning Labs releases Taproot Assets alpha, bringing stablecoins to Bitcoin – Crypto News"},"content":{"rendered":"
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Bitcoin layer-2 infrastructure firm Lightning Labs has released the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoins and real-world assets to be issued on the Bitcoin and Lightning Network.<\/p>\n

The current version, Taproot Assets v0.3, will provide a\u00a0\u201cfeature-complete developer experience\u201d to issue, manage and explore stablecoins and other assets on the Bitcoin blockchain, according<\/a> to\u00a0Ryan Gentry, head of business development at Lightning Labs.<\/p>\n

\u201cWe believe this new era for Bitcoin will see a myriad of global currencies issued as Taproot Assets, and the world’s foreign exchange transactions settled instantly over the Lightning Network.\u201d<\/p><\/blockquote>\n

\u201cWith this release, developers can issue financial assets on-chain in a scalable manner,\u201d Lightning Labs stated on Oct. 18 in a separate post. \u201cToday marks a new era of multi-asset bitcoin.\u201d<\/p>\n

\n

Announcing the first mainnet release of Taproot Assets , a protocol for assets on #bitcoin<\/a> and Lightning.<\/p>\n

With this release, developers can issue financial assets on-chain in a scalable manner. <\/p>\n

Today marks a new era of multi-asset bitcoin. https:\/\/t.co\/2cNvZSvv8v<\/a><\/p>\n

\u2014 Lightning Labs\u26a1\ufe0f (@lightning) October 18, 2023<\/a><\/p><\/blockquote>\n

This version of Taproot Assets will work<\/a> by routing through existing Bitcoin liquidity on the Lightning Network.<\/p>\n

Gentry says the integration will extend Bitcoin\u2019s network effects and move it one step closer toward \u201cbitcoinizing the dollar.\u201d He added:<\/p>\n

\u201cThis is how we make bitcoin the global routing network for the internet of money. This is how we bitcoinize the dollar and the world’s financial assets.\u201d<\/p><\/blockquote>\n

Gentry described developer demand for stablecoin applications on Bitcoin as \u201coverwhelming\u201d \u2014 particularly given that some stablecoin issuers hold more United States Treasuries than the likes of Germany, South Korea.<\/p>\n

\n

The future we deserve#bitcoin<\/a> https:\/\/t.co\/XW433TVEIL<\/a><\/p>\n

\u2014 Paolo Ardoino (@paoloardoino) October 18, 2023<\/a><\/p><\/blockquote>\n

\u201c[It] signifies the importance of these assets globally, and gives a sense of scale for the global user demand,\u201d Gentry added.<\/p>\n

Related: <\/em><\/strong>BitVM wasn\u2019t created to make Bitcoin a pseudo-Ethereum, says developer <\/em><\/strong><\/a><\/p>\n

Nearly 2,000 Taproot Assets were minted on testnets over the last several months in the lead up to the mainnet alpha launch, according to Gentry. <\/p>\n

Alpha launches typically mean the development isn\u2019t in its final state. Lightning Labs said the alpha tag indicates that they expect the community to test it for potential bugs.<\/p>\n

Bitcoin Drivechains<\/a> (through Bitcoin Improvement Proposal-300), Botanix Labs\u2019 Spiderchain<\/a> and the BitVM<\/a> are among the other developments in the Bitcoin ecosystem looking to expand Bitcoin\u2019s capabilities.<\/p>\n

Magazine: <\/em><\/strong>Recursive inscriptions \u2014 Bitcoin \u2018supercomputer\u2019 and BTC DeFi coming soon<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin layer-2 infrastructure firm Lightning Labs has released the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoins and real-world assets to be issued on the Bitcoin and Lightning Network. The current version, Taproot Assets v0.3, will provide a\u00a0\u201cfeature-complete developer experience\u201d to issue, manage and explore stablecoins and other assets on the Bitcoin […]<\/p>\n","protected":false},"author":2,"featured_media":176949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-176948","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176948","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=176948"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176948\/revisions"}],"predecessor-version":[{"id":176951,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/176948\/revisions\/176951"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/176949"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=176948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=176948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=176948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}