Today, Lightning Labs announced that it has released Taproot Assets v0.6, Bitcoin Mainnet’s first multi-asset Lightning protocol update. This update improves the way you create, send and receive Stablecoins in your Bitcoin Lightning network.
“We are extremely grateful to the Bitcoin and Lightning developer community for providing feedback on the protocol, testing early versions of the software, and helping us build early products for end users,” the company said. “We are constantly impressed by the level of building and excitement from developers that have driven Taproot assets adoption forward.”
Since its last release, Lightning Labs CEO Elizabeth Stark and Tether CEO Paolo Ardoino have announced that Tether is bringing USDT to Bitcoin by supporting both on-chain transactions and Lightning networks.
This release includes changes intended to simplify the issuance and usage of assets. Developers can use the ‘–New_GroupEd_Asset’ option during menting to allow assets to share the ‘Group_Key’ identifier. This will keep the tranches of the same asset interchangeable. Each batch still has a separate “asset_id”, but using a shared “group_key” simplifies the processing of Stablecoins using multiple tranches.
“Previously, when using TapRoot assets in Lightning, developers and users had to use ASSET_ID to fund the channel, send and receive payments,” the announcement states. “In assets like Stablecoins with multiple tranches, this ASSET_ID-based workflow has become a pain for developers to juggle. Therefore, in the latest release, developers can use the Group_Key identifier for all lightning including channel funding, invoice payments, and payments.”
This update also includes changes to the Quote (RFQ) protocol request. The software handles the “Group_Key” identifier and allows users to use the existing Vault 11 invoice format to use the edge node to agree to price estimates for time limits.
“As mentioned above, a request for the quotation marks (RFQ) feature allows payment recipients to ask the nodes that provide Taproot assets’ liquidity about the time-limited price estimate between the associated assets and Bitcoin,” the announcement said. “These edge nodes provide important services by converting assets to and from Bitcoin at the edge of the network, ensuring that lightning Taproot assets act as decentralized forex networks.”
In previous releases, the version used a single edge node path for payments. This update allows receivers to use up to 20 inbound Taproot asset channels, increase routing options and support larger transactions.
Source: https://bitcoinmagazine.com/news/lightning-labs-releases-taproot-assets-v0-6-with-updates-to-stablecoin-support-on-bitcoin
