TARO

What is TARO?

Taro is a suggested protocol. Taro stands for Taproot Asset Representation Overlay. The intention is to enable the generation of digital assets on the Bitcoin blockchain. These digital assets could be fungible money like stablecoins or non-fungible, one-of-a-kind tokens like NFTs or collectibles.

Through an on-chain transaction, Taro assets can be moved throughout the Bitcoin network. When deposited into a channel on the Lightning Network, fungible Taro assets can also be moved swiftly, cheaply, and more confidentially. Due to the vastly superior practical benefits, the latter is anticipated to serve as the primary network for Taro asset transactions.

If implemented, Taro might boost both networks' activity and use cases without affecting the user experience. Taro would boost Bitcoin's network effects. It would also help users with little interest in other cryptos.