Stablecoin Protocols
- Taproot Assets
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Taproot Assets Taproot Assets is a protocol that allows assets to be issued on the Bitcoin blockchain. It leverages taproot for privacy and scalability, making it an attractive option for users looking to transfer assets over the existing Bitcoin or Lightning Network. Taproot is a new transaction type defined in BIP 341 and fully functional on Bitcoin mainnet as of November 2021
The protocol enables clients to cross-check with their copy of the blockchain and amend with their own proofs as they pass on the asset. This feature allows for a long list of benefits that make Taproot Assets scalable, robust, and friendly for low-powered mobile devices in situations of limited bandwidth.
One key benefit of Taproot Assets is its light client-friendly nature, which has low verification costs and only requires access to untrusted bitcoin transactions. Additionally, the protocol allows for atomic swaps between assets and BTC, as well as handling both unique and non-unique assets and collections.
Taproot Assets also enables creative multi-signature and co-signatory arrangements, making it a versatile option for users with different asset management needs. Overall, Taproot Assets is designed to provide users with a more private, scalable, and user-friendly way to manage their assets on the Bitcoin blockchain.
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