"Bitcoin is for everyone... no wait, it's for anyone! Bitcoin is a store of value. Bitcoin is a medium of exchange. We could do a classic appeal to authority and declare that Bitcoin is exactly what Satoshi described, "A Peer-to-Peer Electronic Cash System".Bitcoin becomes what we make it. It serves the people we choose to build for. If we want Bitcoin to be a store of value or medium of exchange, we have to build the protocols and services that make this happen."
"Sometimes it's more interesting to ask specifically, who are we building for? Are we building for Americans looking for a long-term investment? Are we building for a shop owner in Brazil? A reseller in Turkey? A software developer in Nigeria? If we want bitcoin to be a medium of exchange, we need to focus on the users who need it most - and Taproot Assets is the tool for that job."
"Taproot Assets allows us to take the assets, and units of account, that people want and need today as mediums of exchange - and move them to Bitcoin infrastructure on the Lightning Network.From a technical perspective, Taproot Assets is a protocol that allows for the minting of assets on the Bitcoin blockchain in a very blockspace-efficient fashion using taproot transactions, made possible by the November 2021 Taproot soft fork activation. Client-side validation is used, the protocol is opt-in, and no consensus changes are required."
Bitcoin's purpose depends on which users and use cases developers prioritize, including investors, merchants, resellers, and developers in emerging markets. Taproot Assets moves existing assets and units of account onto Bitcoin infrastructure and the Lightning Network to serve as practical mediums of exchange. The protocol mints assets using blockspace-efficient taproot transactions enabled by the November 2021 Taproot soft fork, uses client-side validation, is opt-in, and requires no consensus changes. Fungible assets created with Taproot Assets are exchangeable on Lightning and usable on mainnet, with stablecoins on Lightning positioned as the core adoption use case.
Read at Bitcoin Magazine
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