Explosion of tokens on Bitcoin? – The second layer solution Lightning Networkparallel to the main network of Bitcoin (BTC), allows facilitate micro-transactions, thanks to the very low cost and speed of its exchanges. Bitcoin’s “lightning” network will also simplify the creation and exchange of tokensin particular thanks to tools such as Taro-daemon.
Soon stablecoins and other tokens on Bitcoin and Lightning
The Taproot update from the code of Bitcoinwhich took office in November 2021, enabled – among others – to facilitate the use of smart contracts on the BTC network. And thereby, also to issue more simply tokens.
This September 28, 2022, Lightning Labs announces the launch of the alpha version of the software Taro-daemon. This tool will allow developers to more easily “minter” (create) and swap digital tokens on Bitcoin, such as the famous ERC-20 tokens of the Ethereum (ETH) network.
For the moment, in this first version of Taro, the creation of tokens is done on the testnet of the main blockchain of Bitcoin, but it is expected that these crypto-assets can also transit on the Lightning network, in order to benefit from its exchanges quasi instant and free. And always, without intermediary.
“This launch marks the first step towards “bitcoinizing” the dollar by 1) issuing assets, like stablecoins, on the most decentralized and secure blockchain. (…) And 2) allowing users to transact these assets on the most successful and efficient global payment network, Lightning. »
Equivalents ofUSDT and of theUSDC or other stablecoins could thus become available directly on the Bitcoin network and its Lightning Network. But we can also imagine seeing the arrival of the always very popular non-fungible tokens (NFT).
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