Real-World Assets Make Their Way to Bitcoin Thanks to Taproot Assets

Bitcoin has long held the position of the largest cryptocurrency, and it’s poised to strengthen its position further. What if it were possible to issue real-world assets like gold and silver within the crypto ecosystem? Well, that’s precisely what Lightning Labs’ new feature is all about.

Bitcoin Reigns Supreme Thanks to Lightning

Bitcoin is renowned as the all-time largest cryptocurrency, and it shows no signs of changing anytime soon. In fact, the Bitcoin blockchain is set to embark on a new phase of its evolution with the launch of the Lightning Network.

However, if the community is growing exponentially around the world, it’s partly due to El Salvador’s gesture. Since the country adopted bitcoin as its legal tender, crypto has spread, particularly in emerging markets. This, thanks to the many advantages offered by the Lightning Bitcoin Network.

With its low fees, peer-to-peer transactions and instant settlements, it’s only natural that it attracts major market players such as Coinbase and Binance. As a result, it’s no surprise that demand for stablecoin is growing. With this in mind, Lightning Labs saw an opportunity and decided to take advantage of it by launching Taproot Assets, an update that gives bitcoin adoption a new boost.

Lightning Labs and its new feature that should revolutionize the crypto experience

Lightning Bitcoin is drawing interest from many investors, and at the same time, Lightning Labs announced the launch of Taproot Assets on October 18. In all likelihood, this feature will have a major impact on blockchain development, as it will enable developers to issue real-world assets on the network.

Indeed, the release of Taproot Assets vo.3 should make Bitcoin a multi-asset network, while preserving the fundamental principles of the system. To achieve this, the protocol will use the existing Bitcoin liquidity on the Lightning Network.

Given that stablecoin issuers hold more U.S. Treasuries than Germany and South Korea, this initiative seems to be the best option. Going a step further, developers will be able to issue, manage and explore stablecoins, as well as other assets.

Notably, gold, corporate bonds, US Treasuries and more. What’s more, it should improve the convenience and flexibility of crypto asset transfers. That’s right, with this protocol, users can conduct transactions on the blockchain without requiring both parties to be simultaneously online.

According to Lightning Labs’ vision, Bitcoin’s global liquidity, security and decentralization make it the ideal platform for the Taproot Assets protocol. As such, the update, in addition to enabling a network-top experience, will also drive adoption of the leading crypto.