Erik Weijers, a year ago
The Lightning network already enables fast and cheap payments with Bitcoin. Now Lightning Labs wants to build a protocol that enables cheap stablecoin transactions.
It would be an asset to the fast growing stablecoin market: a kind of layer on which stablecoins can move on top of Bitcoin. It would allow us to send (crypto) dollars or euros while benefiting from the security of the Bitcoin network and the transaction speed of Lightning. Anyone with a cell phone could then make local or international payments, without needing a bank, almost for free.
The protocol will be called Taro. It is made possible by Bitcoin's recent Taproot upgrade. To be clear, Taro is not a stablecoin but a teachnology for sending stablecoins.
To fund the project, Lightning Labs, a developer of Lightning, has raised $70 million. The company is backed by Jack Dorsey, Bitcoin believer and former boss of Twitter. Twitter uses the Lightning network for its tipping feature. The Lightning network has grown rapidly in the last year. Also El Salvador uses it for Bitcoin transactions.
May 22, 2023
Every year the Bitcoin community is celebrating the fact that somebody bought two pizzas online. This looks a little bit strange at first glance but it is one of the most important moments in Bitcoin’s history. What is Bitcoin Pizza Day all about and why is everybody celebrating it?
May 22, 2023
The guys who self-identify as the Taproot Wizards - Eric Wall and Udi Wertheimer - entered the main stage of Bitcoin Miami to loud cheers. After their short and silly wizard dance, the panel discussion started in earnest. But not everyone in the Bitcoin community is a fan of their quirky attitude and projects.
May 19, 2023
We wrote about it earlier: Jason Lowery believes Bitcoin could become the world's reserve currency and that countries should engage in a peaceful "arms race" to mine Bitcoin. He believes Bitcoin is a form of digital property that will be defended similar to how navies secure maritime thoroughfare. Not everyone is sold on this concept. Let's discuss a contrarian view.
May 18, 2023
Stablecoin issuer Tether (USDT) in its recent reserves report reveals that the company holds approximately 52 thousand BTC, worth a respectable $1.5 billion. This is only a fraction of its total assets but signals an interesting potential trend of institutions allocating a piece of their capital to Bitcoin.
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