Lightning Labs has brought a new update to the Lightning Network to solve the BRC-20 problem that clogs the Bitcoin network.
Almost every period in the crypto ecosystem, a new trend has begun to form. Memecoins, metaverses, NFTs and many other different categories started to enter our lives. The new trend of recent times has been BRC-20 tokens. These tokens, created on the Bitcoin network, gained popularity in a short time. However, the BRC-20s had kept Bitcoin clogged due to the frequency of transactions on the network.
Lightning Labs, the developer behind Lightning Network, has signed a new update to solve this situation.
Lightning Labs Provides Remedy for BRC-20 Congestion
Lightning Labs, the developer of Lightning Network, reached out to the new trend of the last period, BRC-20s. The developer team addressed the Bitcoin network slowing down due to BRC-20 tokens. Lightning Labs argued that token issuance and data writing on the Bitcoin network is inefficient. Finding the traditional method of writing data directly to the block field cumbersome, the team has released a new update.
The new version of Taproot Assets Protocol released by Lightning Labs has been released to enable more efficient printing of BRC-20 tokens. The developer team stated that the new version is designed to work maximally off-chain.
In addition, Lightning Labs signaled that all wallets and exchanges serving BRC-20 tokens will soon be able to use the Lightning Network.
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