To assist in resolving the BRC-20 problems with Bitcoin, Lightning Labs has made available an updated version of the Taproot Assets Protocol. With the introduction of the BRC-20 token standard by anonymous developer “Domo” on March 8, the protocol is intended to operate “maximally off-chain” in order to prevent network congestion, a regrettable characteristic of the Bitcoin network. The majority of BRC-20 tokens developed so far mint tokens, transfer them, and deploy token contracts using ordinary inscriptions of JSON data. Following a trademark infringement lawsuit brought by blockchain development company Tari Labs against Lightning Labs, the software’s name had to be changed.
Lightning Labs launches updated protocol to help solve Bitcoin’s BRC-20 issues
