I think it’s worth making a slight digression on TARO vs RGB.
TARO is plagiarism of RGB concept, with a different, yet incompatible, implementation.
When RGB devs discovered that LL (Lightning Labs) was working on an implementation of their works, they offered a collaboration, but calls were never returned.
LL code-named their TARO project “CMYK”, an apparent reference to RGB, yet they refused any credit at launch.
Well, everything is open source and not patented, so no legal thread can be issued, but I think LL actions were, to say the least, unethical.
No doubt they wanted to attract capital. Seventy million is a lot of money, and they could have credited RGB ideas, then state the implementation was rubbish and start with a new one. That would have been ok.
Explicitly mocking a rival project (not funded/little funded) to attract hype and VC funding is something that is not in the best interest of the movement.
Having said that, I wish all the best to them.
Topic: [Discussion] Taro: A new protocol for multi-asset Bitcoin and Lightning - page 3. (Read 922 times)
April 09, 2022, 05:08:12 AM
April 08, 2022, 05:48:48 PM
According to link you send it looks like they are working on adding stable coins and other assets on Lightning Network, but this was already done recently using OMNI Layer and Bitcoin-powered service provider Synonym.
I think you mean the Tether transaction on Lightning on March 22.However, I think both RGB and Taro seem to be more expressive than OmniBOLT; it looks like OmniBOLT is a pure token protocol (which allows centralized stablecoins where the issuer controls the supply, so you've to trust it), while Taro and RGB would allow more complex smart contracts, perhaps even algorithmic stablecoins - if this is possible via Lightning (I guess there can be problems if something like Dai's "global settlement" is needed, i.e. that stablecoins are automatically "back-converted" into the base asset).
I've also only now heard of both protocols and it's really interesting stuff
April 08, 2022, 07:02:08 AM
I read about this a couple of days ago, and I also saw Micheal Saylor mentioning it today at the Miami conference, so I wanted to share this with you since I couldn't find any mentions of it on the forum
According to link you send it looks like they are working on adding stable coins and other assets on Lightning Network, but this was already done recently using OMNI Layer and Bitcoin-powered service provider Synonym.Competition is always good, especially when we see Lightning Network adoption is getting better every day with services and exchanges, but I would like to see more regular people using it.
April 08, 2022, 03:26:56 AM
Again, like you I want to know if this is a “game changer” ??
It's as much a game changer as RGB is:
https://www.rgbfaq.com/faq/what-is-rgb
https://bitcointalksearch.org/topic/2020-09-14-rgb-continues-its-work-to-bring-better-smart-contracts-to-bitcoin-5275891
April 07, 2022, 01:41:14 PM
Like you I’m surprised that this hasn’t been mentioned anywhere. Thanks for starting this topic.
I understand NFTs can produced/utilised too - sorry I’m not too technical
Again, like you I want to know if this is a “game changer” ??
I understand NFTs can produced/utilised too - sorry I’m not too technical
Again, like you I want to know if this is a “game changer” ??
April 07, 2022, 01:31:43 PM
I read about this a couple of days ago, and I also saw Micheal Saylor mentioning it today at the Miami conference, so I wanted to share this with you since I couldn't find any mentions of it on the forum:
What are your thoughts on this? And do you think this could eventually end the use of stablecoins on the other blockchains?
For anyone interested in the technical details: https://docs.lightning.engineering/the-lightning-network/taro
-snip-
Taro enables wallet developers to provide users with a USD-denominated balance and a BTC-denominated balance (or any number of assets) in the same wallet, trivially sending value across the Lightning Network just as they do today.
-snip-
Taro enables wallet developers to provide users with a USD-denominated balance and a BTC-denominated balance (or any number of assets) in the same wallet, trivially sending value across the Lightning Network just as they do today.
-snip-
What are your thoughts on this? And do you think this could eventually end the use of stablecoins on the other blockchains?
For anyone interested in the technical details: https://docs.lightning.engineering/the-lightning-network/taro
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