A question that’s been asked about Taro a few times is why not “project Y”. Here’s the list of protocol properties that were needed and achieved for Taro:
1/6 ⁃ Globally unique identifiers
- Single location to verify protocol’s witnesses
- O(log(n)) scaling for additional witness verification
- Bitcoin script able to bind meta-asset encumbrance
- 0-marginal cost to non-Taro bitcoin node’s validation
-Private+efficient proof generation

The 1st taproot hacks that have been in the works for half a year are released today.

Taro:
Taproot Asset Representation Overlay is a method to run an asset-ownership VM in clients exploiting tapscript space as virtual memory. Extensible to arbitrary VMs
lists.linuxfoundation.org/pipermail/bitc… Humbling to work w/ @roasbeef on the nittygritty protocol details of how to deliver this meta protocol at no marginal cost to the bitcoin chain while also making it as robust as base-layer bitcoin and performant as L2 Lightning payments.

.@Lightning Loop handles liquidity state in a channel after it’s been established (“I’ve spent all my coins on LN services, let me top my existing channel rather than restart everything in a new channel”)

*Pool enables new channels to be created, to new entities, fanning out* Loop is about ensuring everyone is happy with their liquidity situation

Pool is about ensuring anyone and everyone who wants to be using the LN is properly connected and directing the graph in their interest, + channel-liquidity providers earning yield is a great union.