A protocol for issuing tokens launches on Bitcoin’s Lightning Network

Spectrum, an open source project building on top of the Lighting Network, is trying to bring DIY ERC-20 style tokens to Bitcoin ($BTC) through a Layer 3 development. Sponsored by Fulgur Ventures, Poseidon Group, Bitfrefill, Chainside, and Bitfinex, the project complements sidechains like Liquid and cross-currency swaps with Lighting. AirSwap's ($AST) Robert Paone added that "Lightning is a long way off from being competitive against ERC-20."