The project formerly known as "Taro" has been rebranded "Taproot Assets" after Lightning Labs was hit with a trademark infringement lawsuit. The new offering, now on a testnet, comes with a "core set of features to bitcoinize the dollar," according to the firm.
The staggering amount of BRC-20 tokens minted via the Ordinals protocol, which clogged the Bitcoin network and sent transaction fees sky-high, has sparked a debate among developers of the blockchain over how to tame the on-chain frenzy. "The Hash" panel discusses the potential implications for the future of Bitcoin's ecosystem.
The creation of Bitcoin based meme coins using the new BRC 20 standard has driven up Bitcoin fees as they use more data than a basic Bitcoin transaction But while some developers in the Bitcoin community are proposing a filter to block Bitcoin NFT projects such censorship could run counter to Bitcoin's open source characteristics [...]
With the rise in the use of inscriptions and the BRC-20 token standard, fee rates on bitcoin are around 100 to 200 times more expensive than normal. "All About Bitcoin" host George Kaloudis discusses the impact of rising transaction fees on the network.