We Study Billionaires - The Investor’s Podcast Network BTC153: Bitcoin's Taproot Asset Protocol w/ Ryan Gentry (Bitcoin Podcast)
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Oct 25, 2023 In this discussion, Ryan Gentry from Lightning Labs, an expert in Bitcoin's Taproot Asset Protocol, unpacks how this tech revolutionizes interactions on the Lightning Network. They explore the Taproot Asset Protocol's ability to efficiently manage off-chain assets and the implications of sending fiat dollars via Bitcoin. Topics include fees and settlement speeds compared to other protocols, the potential for tokenized securities on Taproot, and the landscape of innovative payment solutions. Gentry also shares insights on evolving Bitcoin innovations and the transformative potential for developing economies.
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Taproot Assets Protocol
- Taproot Assets is an open-source protocol built on Bitcoin.
- It commits off-chain metadata to UTXOs, enabling the creation of new assets within Bitcoin's framework.
How Taproot Assets Works
- Taproot Assets doesn't fit the typical layered paradigm of Bitcoin.
- It anchors new assets to Bitcoin UTXOs, leveraging Bitcoin's security while enabling off-chain scalability.
Stablecoins on Bitcoin
- Stablecoins originated on Bitcoin using the Omni protocol.
- Taproot Assets leverages newer technologies and integrates with Lightning, addressing scalability issues of its predecessor.