TAAL has transitioned its innovative STAS tokenization protocol from private beta to public beta. STAS tokens mark an evolution for the BSV blockchain, providing application developers and token issuers with far more tools to grow their enterprises. The STAS white paper was released on January 18 and is available for viewing here.
A key to STAS is its ability to provide a legal contract, or deed, with any token it issues. Doing so links Bitcoin Satoshis to the token and the immutability of blockchain technology provides provability about the terms and participants in the contract. Those indelible contracts and proofs of authorship and ownership are cornerstones of the STAS design.
Another is the ease of transfer and adaptability of the tokens. STAS tokens can represent real-world assets and provides the ability to be swapped for other assets, including fiat currency. They can be issued and redeemed in an NFT or in a fungible token (e.g. be traded on exchanges as a standardized good). STAS tokens represent Satoshi native coins and are able to track the movement of each Satoshi through its journey on the blockchain.
As a public blockchain tokenization protocol, STAS makes any asset decentralized once processed. The token solution enables companies, individuals, and organizations to mint, transfer, and redeem tokens using the native Bitcoin-based STAS scripts. Stocks, bonds, real-estate holdings, as well as event tickets and travel cards, loyalty points, casino chips, and much more can be minted, and tracked, and redeemed.
STAS is an ideal token solution for three reasons:
BSV allows scaling based on the throughput capacity needed to support token requirements at the enterprise level while keeping transaction fees extremely low, as well as it’s built in using native Bitcoin scripts that have been proven security-wise over the last decade.
The protocol enables you to utilize a TAAL software development kit (SDK) to build token solutions for any number of use cases. The SDK wraps the STAS script, which locks or unlocks Satoshis, acting as a building block that provides functionality for creating and building the required transactions that allow users to send, receive, and mint tokens. It removes the difficulty of manually writing transactions. The Application Programming Interface (API) called whatsonchain.com reads the tokens and provides a token authenticity check-in combination while using the STAS SDK.
Once the STAS atomic swap functionality is in place, it will create an exchange of different assets without counterparty risk within the BSV ecosystem. That will bring the functionality needed to turn STAS into the much-desired utility.
Having committed to integrating with existing legal regulations, STAS underscores an aspect about BSV that sets it apart from many other blockchains: It is focused on being compliant with regulatory bodies. That attribute makes the network and TAAL’s proprietary token solution attractive to a number of developers and businesses. By conforming with legal frameworks, BSV and the inherent attributes of its ecosystem aim to reinforce its promise to champion the original Bitcoin protocol.