Taproot locked in!
The biggest Bitcoin update in 4 years, has been well confirmed by over 90% miners – the threshold required by the “Speedy trial” activation mode.
Taproot will replace ECDSA signatures with Shnorr, saving blocks storage space and making cheaper complex transactions like Multisig and Layer 2 pegs.
The coolest thing though is how smooth Taproot activation was. Bitcoin is decentralized, and it’s often hard for everyone to agree on important decisions concerning its protocol. Segwit implementation in 2017 was a good example of how difficult Bitcoin governance is. Back then, the update implementation stalled for 9 months before a User Activated Soft Fork was forced on the miners, and a part of the community unsatisfied with the update forked off Bitcoin a whole new blockchain called Bitcoin Cash.
Taproot was confirmed in less than 3 months, and its activation is now well scheduled for November 21. Does it mean that the community has matured enough to share the same vision of Bitcoin future?
