Initial Code Release for Taro Protocol: Building the (Tap)Root of the World's Financial Network with Bitcoin
A Taproot-powered protocol for issuing assets that can be transferred over bitcoin and in the future, the Lightning Network for instant, high volume, low fee transactions.
Today we're excited to announce the alpha release of the Taro daemon, enabling developers to mint, send, and receive assets on the bitcoin blockchain. In April, we first announced Taro, a Taproot-powered protocol for issuing assets that can be transferred over bitcoin and in the future, the Lightning Network for instant, high volume, low fee transactions. We are grateful to the bitcoin developer community for their valuable feedback, and have incorporated it into the draft Bitcoin Improvement Proposals (BIPs), which specify the protocol, and the Taro alpha daemon implementation.
In the coming months, more enhanced features will be added to the Taro daemon including universe functionality. Universes will allow users and asset issuers to provide proofs about asset provenance, supply issuance, and more easily interact with Taro asset data. Once the on-chain functionality is complete, we'll work towards integrating the Taro protocol into lnd, bringing Taro assets to the Lightning Network. The initial work to implement simple, unannounced Taproot channels in lnd has begun, a prerequisite for Lightning channels that can send and receive Taro assets. We're incredibly excited to get the new Lightning capabilities into the developer community's hands!