June 25, 2024

Taproot Bitcoin Update Ready To Activate, But Developers Delayed Launch

Taproot Bitcoin Update Ready To Activate, But Developers Delayed Launch

The Bitcoin Core development team contributed the Taproot protocol to the cryptocurrency's codebase, but decided to delay its activation in order to conduct a "soft" upgrade.

The Taproot protocol includes several important enhancements to Bitcoin, including Schnorr's signature technology, which improves the privacy of complex transactions and functionality.

For example, multisig transactions can be performed immediately after the consent of all parties, or with a delay if one of the participants does not have the signature.Schnorr Authentication SchemeIt will also allow disguising multisignature transactions as regular ones and hiding their conditions.

According to the developers, Taproot itself is completelyready to go, but due to the complexity of activation, its functionality was frozen by the codebase to make the protocol compatible with the new major version of the network and implement it as a soft fork. In the meantime, the team will focus on testing and finding bugs.

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