Lightning Labs, the Lightning Network infrastructure firm, has renamed its Taro project to Taproot Assets and released a software update after a trademark infringement suit was filed by Tari Labs. The suit resulted in an injunction that prevented further development of the project, but with the rebranding, Lightning Labs has resumed work on the primary software for implementing the newly renamed Taproot Assets protocol. The protocol will allow users to issue assets such as stablecoins on the Bitcoin blockchain. Taproot Assets is currently available on a test network, with main network support "coming soon," according to the team. Lightning Labs plans to propose finalized specifications of the protocol to the Bitcoin community via bitcoin improvement proposals (BIPs) and Bitcoin Lightning improvement proposals (bLIPs) with the ultimate goal of enabling Bitcoin-based asset transfers over the Lightning Network.
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Lightning Labs Resumes Work on Bitcoin Asset Protocol After Rebranding Taro Project to Taproot Assets
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