Lightning Labs, the company behind the Lightning Network, has developed a new protocol that can help introduce more use cases to the Bitcoin network, the company’s CTO Olaoluwa Osuntokun announced April 5, noting that he designed the protocol, dubbed Taro.
According to Osuntokun, Taro’s integration will enable the issuance of assets and collectibles on the Bitcoin network. The protocol will also allow all Lightning Network participants to enjoy the benefit of Lightning’s nearly free, almost instant, global transaction capability. All this without having to put up with BTC’s current volatility.
Essentially, the protocol will introduce assets like stablecoins to the Bitcoin network, letting BTC adopters increase or dial down their exposure to volatility. This feature will be especially beneficial for populations that have a low tolerance for BTC’s volatility, due to their socioeconomic status.
Leveraging Taproot
To unlock these functionalities, Taro will use Taproot — the lat
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