Author: Ruben Somsen 2022-04-07 17:14:03
Published on: 2022-04-07T17:14:03+00:00
Ruben, an expert on the RGB protocol, has shared his thoughts and concerns with Olaoluwa Osuntokun, the creator of the Taro protocol. Ruben believes that there are several issues with the Taro protocol, particularly with its scripting expectations and its handling of fungible tokens. He explains that conditional scripts won't be possible if the satisfaction of the condition is not recorded publicly on-chain, which is a fundamental problem with Taro's script. Additionally, the way Taro handles fungible tokens may lead to fragmentation of tokens or a bottleneck in the transaction history, which raises privacy concerns.To address these issues, Ruben suggests that Taro can function over Lightning by relying solely on Bitcoin's scripting capabilities. However, this hybrid on-chain/off-chain model would increase complexity significantly. He also points out that it is possible to create conditional payments if the satisfaction of the condition is recorded publicly on the mainchain. Overall, Ruben's feedback highlights several potential issues with the Taro protocol and suggests areas for improvement.The purpose of Taro is to simplify the process of developing new assets on the Lightning Network, which currently requires a new network and liquidity for each asset. With Taro, all asset transfers will utilize the Bitcoin backbone of the Lightning Network, meaning that the internal routers just see Bitcoin transfers as normal and don't even know about assets at the edges. The set of BIPs (Bitcoin Improvement Proposals) that make up Taro can be found in the links provided.
Updated on: 2023-06-03T08:08:52.650425+00:00