Taproot Locking For Bitcoin Is Only 14 Blocks Away, Why Is It Important For The BTC Network?

The taproot upgrade for Bitcoin is set to full lockdown and at the time of writing, more than 99% of Bitcoin blocks are just 14 blocks left. Source: Taproot.watch It's probably already locked by the time you read this article. Github describes the Taproot upgrade as a proposed Bitcoin protocol upgrade of Taproot that can be deployed as a forward compatible soft fork. Taproot will expand Bitcoin's smart contract flexibility while providing greater privacy by allowing users to mask complex smart contracts as a regular Bitcoin transaction. Taproot would combine the “Schnorr signature scheme with MAST (Merklized Alternative Script Tree) and a new scripting language called Tapscript. This will include changes to the Bitcoin script that hides various information associated with a transaction. After the Taproot upgrade was locked, it would be voted down in November this year after it was approved and Added as a soft fork, it will improve the privacy and compliance of Bitcoin smart contracts Currently, Bitcoin transactions can be easily tracked on the blockchain without providing privacy to the user, however, the Taproot upgrade, only a certain portion of the Bitcoin transaction can be traced, Taproot will be the first major Bitcoin upgrade in 4 years Taproot upgrade, 2017 It will be the first major addition to the Bitcoin network since the SegWit upgrade in . Create a more private cryptocurrency. There are many ways to complicate the Bitcoin transaction. Like mixing tools, but these add-ons have become more powerful, especially with blockchain monitoring tools. can be easily monitored at any time. Taproot solves this problem and hides all the moving parts of the Bitcoin transaction. Let's say a wallet initiates a transaction through a lightning network, a peer-to-peer transaction using a smart contract, but anyone controlling those transactions only sees a puddle.

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