Developers unveil alpha version of Taro protocol for the Lightning Network

The Lightning Labs team unveiled the alpha version of the Taro protocol, enabling the issuance of assets such as stablecoins on the Bitcoin network and their use in applications built on Lightning NetworkLightning Network (LN).

Today we’re excited to announce the initial code for Taro 🍠, a new protocol to issue and transfer assets on #bitcoin and Lightning 🔜.

With this release, we’re one step closer to bitcoinizing the dollar, and the global financial system! 🌍💱https://t.co/mRrLyttgXv

— Lightning Labs⚡️🍠 (@lightning) September 28, 2022

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The developers announced Taro in April 2022. The protocol launch is made possible by the activation of the Taproot upgrade in the Bitcoin blockchain.

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The protocol enables creating a broad range of assets, including stablecoins, and moving them into LN, paying minimal fees. The alpha version of the solution is available on a testnet. Over the coming months, the team will gather feedback from developers and enthusiasts.

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The open-source code for Taro has been posted in the repository on GitHub.

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\”Taro enables Bitcoin and LN to be multi-asset. Users will be able to open Taro channels that connect to peripheral devices, and interact with the existing Lightning network. Instead of creating a new ecosystem of nodes and liquidity, Taro will use the existing infrastructure,\” wrote Michael Levin, chief product development specialist at Lightning Labs.

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In June 2022, developers added support for Taproot to the LND Lightning client.

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