bitcoin (BTC) software firm Lightning Labs and blockchain startup Tari Labs have agreed to convert a court-ordered temporary restraining order halting development of Lightning's Taro protocol.
On a March 15 presentationAttorneys for Lightning and Tari proposed turning the restraining order into a preliminary injunction, a temporary order that prevents one party from taking certain actions.
Converting the order to a preliminary injunction would halt development of the protocol until a court decision is reached.
The two companies agreed that Lightning would not make updates to the Taro protocol yet, would merge internal updates with the protocol's public open source code, and would not be able to announce or release "the next stage or 'milestone' of the TARO protocol."
However, Lightning is allowed to respond to communications from non-Lightning developers and users, if you do not use those communications to further the development of Taro.
You could also refer to Taro as the "former protocol name" for announcements related to the protocol name change, as long as it "is not so similar to Taro or Tari as to confuse it."
The temporary restraining order was issued on March 13 by California District Court Judge William Orrick after Tari Labs said the name "Taro" infringed its trademark rights as it was too similar to its own protocol called "Tari," a registered registered trademark in the United States.
As a result, Lightning Labs has been unable to make updates related to the Taro protocol.
Tari Labs first introduced a complaint for trademark infringement against Lightning Labs on Dec. 8, alleging that both companies "compete in the same digital blockchain ecosystem" and provide similar, "in some cases identical" services.
Both companies also โmarket with similar developers and users, and appear on the same blockchain platforms,โ according to Tari.
Related: DeFi in Bitcoin is possible with this new Layer 2: AMA with Mintlayer
News of the restraining order sparked a backlash on Twitter. Tari Labs co-founder Riccardo Spagni defended the lawsuit, arguing in a March 15 tweet that the letters "I" and "O" are close enough together on a computer keyboard to cause confusion and that Tari offered to finance the rebranding of Taro for one year. back.
Conversely, if you don't defend a trademark, you literally lose it. Also, the i and the o are next to each other on the keyboard; his own lawyer misspelled it. The last thing I'll say is that (1) we communicated a long time ago, multiple times, via email/Twitter DM/in person on a... https://t.co/k65HU4xKfp
โ Ric โthe fluffy ponyโ (@fluffypony) March 15, 2023
The lawsuit was similarly defended by Tari's co-founder Naveen Jain, who suggested in response to a Twitter user who called the lawsuit "frivolous" that it was "difficult to call something 'frivolous' when a judge issues a restraining order." temporary in your favor."
you are welcome to your opinion. That said, it's hard to call something "frivolous" when a judge issues a temporary restraining order in his favor.
โ Naveen (,) (@NaveenSpark) March 16, 2023
Lightning Labs develops software for the lightning networka layer 2 solution for the Bitcoin blockchain that enables cheaper and faster transactions than those executed on the base layer.
Its Taro protocol is an ambitious project that was announced on April 5 in the midst of a Round of funding of $70 million and plans to build on Bitcoin Taproot Update and allow stablecoins to be transferred over the Lightning Network.
Post navigation
Previous Post
Cryptocurrency Aptos Falls More Than 5% In 24 hours
