According to the statement made by Lightning Labs, the first version of the Taro protocol is ready for use.
Cryptocurrency users will be able to transact on the bitcoin blockchain and Lightning Network platform via the Taro protocol.
According to the statement made by Lightning Labs, this new protocol “to bitcoinize the dollar and the global financial system” as a step forward.
According to a statement by Lightning Labs product manager Michael Levin:
“From conversations with bitcoin and Lightning developers around the world, we came to the conclusion that people want to use stablecoins in the same way they use bitcoin on the Lightning Network.”
According to Lightning Network management, this new protocol allows users to low-cost, peer-to-peer transactions will allow.
Lightning Labs first launched the Taro platform in April was opened for use.
Lightning Labs was founded in 2016 and has received investments from many names, including Jack Dorsey, CEO of Square, and Vlad Tenev, CEO of Robinhood.