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Lightning Labs launches Taproot Assets alpha, a new feature that enables users to create and transfer digital assets on the Lightning Network. Taproot aims to improve the Bitcoin (BTC) network, enhancing privacy, scalability, and security. It allows users to create complex scripts that can be executed on the Bitcoin blockchain while hiding them under a single public key. This might reduce the transaction size, cost, and information revealed to third parties. Lightning Labs, the leading developer of the Lightning Network, has leveraged Taproot to create the new service. This new feature allows users to issue and transfer digital assets on the Lightning Network. These assets can represent anything from loyalty points, gaming tokens, stablecoins, NFTs, and more. You might also like: Bitcoin network hits block 800,000 milestone, here’s why it matters Taproot Assets are created using Tapscript, a scripting language that enables users to define the rules and conditions for issui...

Taproot Assets is “how we bitcoinize the dollar and the world’s financial assets,” says Ryan Gentry, director of business development at Lightning Labs. Bitcoin layer-2 infrastructure firm Lightning Labs has release d the mainnet alpha of Taproot Assets, a protocol aimed at enabling stablecoin s and real-world assets to be issued on the Bitcoin and Lightning Network. The current version, Taproot Assets v0.3, will provide a “feature-complete developer experience” to issue, manage and explore stablecoin s and other assets on the Bitcoin blockchain, according to Ryan Gentry, head of business development at Lightning Labs. “We 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.” “With this release , developers can issue financial assets on-chain in a scalable manner,” Lightning Labs stated on Oct. 18 in a separate post. “Today marks a new era of mu...