Asset management firm Stone Ridge, the parent company of Bitcoin company NYDIG, has launched the first startup accelerator that focuses on the Bitcoin Lightning Network and the Taro protocol, called In Wolf’s Clothing (Wolf).
The teams which apply and are accepted into the program will receive a guaranteed investment of $250,000.
Kelly Brewster, the CEO of Wolf, pointed to one-on-one mentorships and access to a range of specialists as additional benefits of the program.
Kelly Brewster (@kbbrewster) October 26, 2022 Despite macroeconomic headwinds and a huge drop in the price of Bitcoin (BTC), the Lightning Network has continued to see rapid growth in its capacity over the last year, recently breaching the 5,000 BTC threshold after having only hit 4,000 BTC in June.
The Taro protocol is a Taproot-powered protocol designed by the Bitcoin software firm Lightning Labs, which allows assets issued on the Bitcoin blockchain to be transferred to the Bitcoin Lightning Network.
In other words, Taro allows the Lightning Network to become a multi-asset network with Bitcoin at its core.
Source: Cointelegraph
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