Taproot Assets on Lightning: the first multi-asset Lightning protocol on mainnet

[Yamane_Keto]

With this release, assets can be minted on bitcoin and sent via the Lightning Network instantly for low fees. As such, we now have the ability to make bitcoin and Lightning multi-asset networks in a scalable manner anchored in bitcoin's security and decentralization. This step forward will give users access to the world's currencies on an open, interoperable payments network while routing through bitcoin liquidity, making bitcoin the global routing network for the internet of money.

The article talked about the importance of stablecoins, but I think it is somewhat exaggerated.

https://lightning.engineering/posts/2024-07-23-taproot-assets-LN/
https://github.com/lightninglabs/taproot-assets/releases/tag/v0.4.0


Developers can now open Lightning channels denominated in the unit of account of their choice, which means we may see stablecoins moving to the Lightning Network.

[NotATether]

It makes Runes and Ordinals obsolete. But I think Ordinals had already been obsoleted by Runes before that.

I'm sure there will definitely be competition from the two camps who think that Runes is better than Taproot Assets, or vice versa. (The third category, who unsurprisingly hate any sort of assets being on Bitcoin, is ignored in this debate.)

[dkbit98]

Still centralized, still not user friendly, that is lightning network, but since nobody is using it let's add stablecoins, this was the logic.
All this Bitcoin maxi purist have been talking bitcoin-only, and now they are going to bring back stable coins and other crap on lightning network.
Meanwhile, 90% of LN users is still using custodial wallets... jus sayin.

[ABCbits]

It makes Runes and Ordinals obsolete. But I think Ordinals had already been obsoleted by Runes before that.

I'm sure there will definitely be competition from the two camps who think that Runes is better than Taproot Assets, or vice versa. (The third category, who unsurprisingly hate any sort of assets being on Bitcoin, is ignored in this debate.)

But those who use Ordinal and Runes usually ignore similar technology outside Bitcoin on-chain though. They already did that with Liquid and RSK, so i expect they'll ignore Taproot Assets as well.

--snip--
Meanwhile, 90% of LN users is still using custodial wallets... jus sayin.

I wouldn't be surprised if majority of average user use custodial LN wallet, but are there any source for 90%?

[Husna QA]

Developers can now open Lightning channels denominated in the unit of account of their choice, which means we may see stablecoins moving to the Lightning Network.

This Taproot asset could be an alternative for NFTs or collectibles users so that transactions can be faster and at lower costs using the Lightning Network.

Support for Various Asset Types: The protocol supports different assets, from divisible standard assets to non-divisible collectibles. Each type of asset can have unique rules and structures for issuance, transfer, and management.

--snip--
Meanwhile, 90% of LN users is still using custodial wallets... jus sayin.

I wouldn't be surprised if majority of average user use custodial LN wallet, but are there any source for 90%?

Regarding statistical data, most Lightning users choose a custodial wallet; I found one of the sources here: https://zapalytics.com/

[ABCbits]

--snip--
Meanwhile, 90% of LN users is still using custodial wallets... jus sayin.

I wouldn't be surprised if majority of average user use custodial LN wallet, but are there any source for 90%?

Regarding statistical data, most Lightning users choose a custodial wallet; I found one of the sources here: https://zapalytics.com/

Thanks for sharing the source. Although it seems the statistic is a bit skewed due to zbd.gg, which is also platform for play to earn and microtask.

[bitmover]

--snip--
Meanwhile, 90% of LN users is still using custodial wallets... jus sayin.

I wouldn't be surprised if majority of average user use custodial LN wallet, but are there any source for 90%?

It is sad to see that after all those  years lightning really didn't make any improvements regarding user experience and interface.

I don't see any other l2 alternative yet. Liquid is centralized and barely used, although much more simple than LN.

[ABCbits]

--snip--
Meanwhile, 90% of LN users is still using custodial wallets... jus sayin.

I wouldn't be surprised if majority of average user use custodial LN wallet, but are there any source for 90%?

It is sad to see that after all those  years lightning really didn't make any improvements regarding user experience and interface.

Actually there are some improvement compared with >5 years ago, although it's not enough to make average user use LN. I don't expect Taproot Assets would encourage many people to use LN either.

I don't see any other l2 alternative yet. Liquid is centralized and barely used, although much more simple than LN.

Rootstock (RSK) is less centralized than Liquid, while also simpler than LN. But unfortunately it has less promotion and wallet which support it.

[bitmover]

Actually there are some improvement compared with >5 years ago, although it's not enough to make average user use LN. I don't expect Taproot Assets would encourage many people to use LN either.

I consider myself an "advanced user" with higher knowledge than the average 

I simple don't fell comfortable using LN yet.

I don't trust holsojg large amounts in it. I don't know if a transaction will.really go through,  if some weird invoice problem will show up, etc

[dkbit98]

Regarding statistical data, most Lightning users choose a custodial wallet; I found one of the sources here: https://zapalytics.com/

It's even worse than I said with over 90%, just another confirmation that entire Lightning Network is one big circus show.
I recently saw reports from several payment processors and websites that accept bitcoin, monero, with other coins and Lightning Network, and almost nobody is using Lightning payments.
Lot of wasted time and resources and we are still waiting for magical ''Lightning adoption'' 

[bitmover]

Lot of wasted time and resources and we are still waiting for magical ''Lightning adoption'' 

Simple won't happen... too complicated, bad UI.. the best implementations are custodical. What I am going to say may look absurd, but the best Lightning Wallet I have ever used was my Binance account 

Worked very well.

Aqua wallet is also a good one, but there are some problems with the invoice value as Aqua wallet requires an invoice with amounts (so I couldnt use it with Exch.cx)

[dkbit98]

Simple won't happen... too complicated, bad UI.. the best implementations are custodical. What I am going to say may look absurd, but the best Lightning Wallet I have ever used was my Binance account 

But that is not really a wallet, and you can be sure that everything is tracked and recorded by them.

Aqua wallet is also a good one, but there are some problems with the invoice value as Aqua wallet requires an invoice with amounts (so I couldnt use it with Exch.cx)

I think they made some updates in latest version, but I don't know if this issue was fixed.
There are other LN that seem decent enbouh like Zeus or Phoenix wallet, but I think we all saw how US banned Phoenix wallet few months ago.

[NotATether]

--snip--
Meanwhile, 90% of LN users is still using custodial wallets... jus sayin.

I wouldn't be surprised if majority of average user use custodial LN wallet, but are there any source for 90%?

Custodial wallets are easier to use since you just have to install an app and you use somebody else's channels.

Making your own channels and getting someone to pay you through those channels is significantly hard, because you're not just relying on the routing of payments to balance your channels, you also need someone to manually send sats the other way, and they aren't going to do that if you don't have a good or service to provide.

[bitmover]

Making your own channels and getting someone to pay you through those channels is significantly hard, because you're not just relying on the routing of payments to balance your channels, you also need someone to manually send sats the other way, and they aren't going to do that if you don't have a good or service to provide.

Inbound capacity can be a nightmare.

I tried once to receive a 300 usd payment using electrum and I gave up.

Basically I decided to receive in binance , and later on I discovered aqua which is better.  But both are custodial LN solutions.

[dkbit98]

Custodial wallets are easier to use since you just have to install an app and you use somebody else's channels.

It's easy and it has nothing to do with Bitcoin at all, I would even say it's worse in every way.

Making your own channels and getting someone to pay you through those channels is significantly hard, because you're not just relying on the routing of payments to balance your channels, you also need someone to manually send sats the other way, and they aren't going to do that if you don't have a good or service to provide.

There are one or two Lightning wallets that are easy to use and they are self-custodial, but only a small percent of people is using them, or they are restricted and not allowed to be in app store for some regions.

I tried once to receive a 300 usd payment using electrum and I gave up.

Can you even imagine newbie trying to use that? No chance.
Maybe we should wait for another 10 years for LN devs to fix this