Confirmed that Bitcoin and Taproot...
15
04
Confirmed that Bitcoin and Taproot update have started.Improves security and scale
The rollout of Taproot, which is a major feature update for Bitcoin, was confirmed around 14:15 JST on the 14th. This is a code-level update since the change called SegWit in 2017.
Cryptocurrencies (cryptocurrencies, cryptocurrencies) are based on a distributed ledger technology called blockchain, so if you don't have a formal developer like a typical software update, a new version from a central server You cannot use the method of distributing and applying it to the user.
In the case of Bitcoin, such feature updates were decided when it was confirmed that the number of miners who supported the adoption of the new code reached a certain percentage of the total, and within the next few days, Miner and node (terminals included in the Bitcoin trading network) operators install software that supports the new code and start operation with the new code. It means that the activation has been confirmed this time.
The Taproot upgrade has removed the use of the cryptographic signature framework ECDSA. Instead, it introduces a technique called Schnorr signatures that makes more complex transactions (such as transactions from a multi-signature wallet) look like any other transaction, improving transaction privacy and security, as well as transaction efficiency. It is also beneficial in terms of aspects. For this reason, it is expected that it will be easier to respond to the increase in transactions due to the spread and expansion of Bitcoin in the future.
This year, it has been decided that it will be treated as legal tender in El Salvador, and in the United States, the movie theater chain AMC Theaters will be available for payment, which gives the impression that Bitcoin has become more widespread in society. In New York, a global financial district, the next mayor, Erik Adams, said he would receive the first three salaries in Bitcoin.
Source: The Block
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