Topic: Lightning Labs just made "Taproot Assets" v0.2 a BRC20 alternative. - page 2. (Read 366 times)

i quote here OmegaStarScream's post, which has already mentioned this a few days ago:


and no less a person than Micheal Saylor has also already commented on these brc20 tokens
https://en.cryptonomist.ch/2023/05/23/micheal-saylor-brc-20-tokens-legal/

i personally like the approach of taproot assets 0.20, because it moves the whole ordinals/brc20 thing to ln network and thus unburdens the blockchain

Actually, most people getting into Ordinals/BRC20 are the same people who got into IEOs, ICOs, and everything else and have NO idea what any of it is. They just know it's te next big thing and have FOMO. So they use whatever wallet / app that the person talking about it on YouTube / Telegram or wherever tells them to.

So in the end they will move to whatever wallet is being talked about by whatever scammer is doing the talking that day.

Kind of like the people that go and buy gold because the commercial on TV told them it was a good investment.

-Dave

I can agree that some people may buy some of the tokens and lose, while some people may gain. Despite the negative aspects, there are tokens existing on other blockchains.

Bitcoin miners are profiting from transaction fee than ever before. It is a good thing that we are seeing ways that bitcoin mining reward can be replaced fully by transaction fee.

I read about this on cointelegraph or a one news before, but I do not know they will be fast to do this. Thanks that some developers are finding alternative ways, not that something good should be eradicated with censorship from developers.

I wish bitcoin will continue to be decentralized as it is now.

Source: https://lightning.engineering/posts/2023-05-16-taproot-assets-v0.2/
https://cointelegraph.com/news/lightning-labs-launches-updated-protocol-bitcoin-brc20-congestion

I hope everyone here agrees with me that writing Ordinals/BRC20 in the blockchain using JSON is a massive space monster. (You might also believe that Ordinals are negative in their entirety and should be removed. Well there's another thread on this board for saying that.)

The good news is that Lightning Labs appears to have actually done something about this mess.

First off, Taproot Assets is actually just Taro, but they had to change the name.

Second, This is a new version of Taproot Assets (v0.2) with a far more efficient way of storing the Ordinals, but on the Lightning network and not the mainnet.

So if you are a "Layer 1 purist", this release will be very good for you, provided that someone can convince all these shitcoiners to move their tokens there.

Also, if you happen to be the one guy on this forum who hates LN, this is also good news for you because it will soon become "business as usual" on Layer 1
(and that is all you need to know, you may promptly bow out of this thread now).

There's just one problem with this. Lightning adoption needs to be more widespread for this to work, or else the very spammers who are supposed to be using this protocol will never hear about it.

That means more wallets, and more advocation for Lightning Network wallets going forward.

Of course, it is semi-known around here that custodial LN channels are more usable than the non-custodial variants. So if you want to start with the onboarding immediately, you can send these Ordinals users to these kind of Lightning wallets without worry. As judging by their antics, they are probably minting BRC-20 using a custodial Bitcoin wallet anyway.

*edited for spelling