Author: John Carvalho 2022-05-01 05:33:47
Published on: 2022-05-01T05:33:47+00:00
John Carvalho, CEO of Synonym.to, has been researching and promoting tokens on Lightning for three years. He believes that if the Lightning Network can scale Bitcoin, it can also scale tokens on Bitcoin. While he acknowledges the tradeoffs and arguments for existing Bitcoin sidechains and Bitcoin-anchored token projects, he believes that supporting "tokens on Lightning" should be a separate concern from Taro and that Lightning Labs should create a separate BOLT proposal. Carvalho notes that while Taro is not LN-native, it is being supported by LND. Instead, he calls for all LN implementations to have a genericized protocol that can support multi-network, multi-asset LN-as-rails use cases. This would allow for fair competition in the market and maximum interoperability between different token solutions. Carvalho does not represent any specific token network solutions and Synonym.to has not yet finalized which token networks it will support.
Updated on: 2023-06-03T08:37:56.469860+00:00