Developers Release Taproot Assets Protocol for Bitcoin Mainnet

The Lightning Labs team has just released an alpha version of the Taproot Assets v0.3 protocol for the Bitcoin mainnet, a solution that, according to the developers, ensures the issuance and management of financial assets as stablecoins on the Bitcoin blockchain.

The release provides forward compatibility, which means there will be no critical changes to the protocol that could affect assets launched on the mainnet.

Notably, the release supports functionality within the Bitcoin blockchain and the developers have promised to add support for the Lightning Network (LN) in the “near future.”

Lightning Labs launched in September last year the Taro protocol, which allows assets to be issued and used in LN-based applications. 

In May 2023, the developers presented a new version of the protocol, already called Taproot Assets v0.2.