Bitcoin Taproot upgrade is live
The biggest Bitcoin update in 4 years went live today.
Called Taproot, it will replace ECDSA signatures with Shnorr, saving blocks storage space and making cheaper complex transactions like Multisig and Layer-2 pegs.
As smart contracts are taking less space, Bitcoin is becoming more efficient and suitable for the further development of layer-2 protocols that allow the creation of Bitcoin-powered DApps. Stacks is an example of such protocol, and it is becoming increasingly popular with its NFT marketplaces, CityCoins or .btc domains.
Taproot also helps increase Bitcoin’s privacy, as multisig transactions are now undistinguishable from the simple ones.
Bitcoin is the most decentralized blockchain, and its updates have always generated an Internet-wide chaos (the last big update of 2017 has resulted in the creation of Bitcoin Cash). Not with Taproot, however. It was confirmed in less than 3 months, and its activation was particularly smooth.
Does it mean that the community has matured enough to share the same vision of Bitcoin future?
