“We are seeing a surge of interest in Bitcoin blockchain asset issuance using protocols that write metadata to the blockchain in an inefficient way.
While the hype surrounding the creation of BRC-20 is encouraging, these protocols are not designed to scale.
The update uses existing network effects and does not require starting a new ecosystem from scratch,” according to the company’s announcement.
Lightning Labs said that the Taproot Assets protocol will allow an unlimited number of assets to be released or moved in a single transaction on the network and encouraged the community to test the code and start creating assets on Taproot.
Calling all bitcoin and Lightning developers to test the code and start building on Taproot Assets! Now with:
vPSBT support for send and receive
Universe APIs for asset discovery
Multi-asset transactions to save chain spacehttps://t.co/4VVTfVk5YK– Lightning Labs (@lightning) May 16, 2023
Late last year, Lightning Labs developers identified a critical bug in Lightning’s payment routing failures that could lead to loss of funds without specifying why the problem occurred.