How Taro Brings Assets To Bitcoin Through Taproot And Lightning Today

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Lightning Labs has introduced a new protocol proposal for Bitcoin and the Lightning Network, Taro, which seeks to bring new use cases to the network. The company has published a series of draft Bitcoin Improvement Proposals (BIPs) and it is asking for community feedback on the proposed design.

Taro seeks to enable the issuance of assets and collectibles, which are the protocol’s form of non-fungible assets, on Bitcoin as well as their transfer on Lightning in a private and secure manner without bloating the blockchain. To do so, it plans to leverage the protocol’s latest upgrade, Taproot.