• info@parsalandco.com
  • +989124000464
  • +989127093613
  • Home
  • Startups
  • Departments
    • Application Software Department
    • Architecture Department
    • Construction Department
    • Cryptocurrency Department
    • Decoration Department
    • Digital Investment Department
    • E-Commerce Department
    • Electronic Department
    • Energy Saving Department
    • Health Department
    • IOT Department
    • Mechanical Department
  • Top Projects
    • Green Power Generator
    • Green Marketing
    • Smart Animal Husbandry
  • Blog
  • about us
    • Ethics charter
Menu
  • Home
  • Startups
  • Departments
    • Application Software Department
    • Architecture Department
    • Construction Department
    • Cryptocurrency Department
    • Decoration Department
    • Digital Investment Department
    • E-Commerce Department
    • Electronic Department
    • Energy Saving Department
    • Health Department
    • IOT Department
    • Mechanical Department
  • Top Projects
    • Green Power Generator
    • Green Marketing
    • Smart Animal Husbandry
  • Blog
  • about us
    • Ethics charter

Bitcoin’s Biggest Upgrade Since 2017: Taproot Just Went Live

Home » Blog » Bitcoin’s Biggest Upgrade Since 2017: Taproot Just Went Live

Zero-emission Maritime Energy Solutions
Zero-emission Maritime Energy Solutions
November 13, 2021
The Pixel Fold may not match the Pixel 6’s camera, and that’s good news
November 14, 2021
November 14, 2021
Categories
  • Blockchain
Tags
  • bitcoin upgrade
  • Taproot

Bitcoin’s Biggest Upgrade Since 2017: Taproot Just Went Live

Taproot is Bitcoin’s most significant upgrade since 2017.

A long-awaited upgrade to the Bitcoin network is finally here. The new protocol, Taproot, preserves privacy on the Bitcoin and blockchain by obscuring complicated transactions. It also makes them cheaper and more lightweight.

The upgrade, which was locked in on June 12, is seven years in the making. It combines complex transactions with simple ones without bulking out the blockchain.

Taproot does this by replacing Bitcoin’s current signature protocol with Schnorr signatures. These are faster signatures that boost Bitcoin’s transaction privacy and make it easier to implement lightweight smart contracts.

This is, provisionally, good for Bitcoin. It will make multi-signature transactions, which require several signatories to okay a transaction at once, cheaper and easier to execute. Making better use of Bitcoin’s finite space makes the blockchain more scalable, too.

Taproot is the most significant upgrade to Bitcoin since Segwit in 2017. Segwit fixed a host of bugs, allowed for more transactions to be stuffed in each block and laid the groundwork for Layer 2 payment channels Taproot is the most significant upgrade to Bitcoin since Segwit in 2017. Segwit fixed a host of bugs, allowed for more transactions to be stuffed in each block and laid the groundwork for Layer 2 payment channels, such as Lightning., such as Lightning.

Today’s upgrade signals a mostly behind-the-scenes change for now. The march to today was kicked off when Taproot was activated in June; then, the network instigated a waiting period for all nodes to upgrade to the newest version of Bitcoin Core.

But as with all things on Bitcoin, the upgrades are meaningless unless a community makes use of them. Now it’s up to developers to build on Taproot.

Related post

  • Ripple pins hopes on Biden administration as co-founder sells 28.6M XRP
  • Bitcoin: Here’s why $50,000 will come sooner than expected
  • Ethereum surges to a record high of $2,000
  • Uniswap (UNI) and Compound (COMP) hit new highs as DeFi TVL reaches $27.6B
  • COTI, STASIS integrate Chainlink to bridge CeFi-DeFi
Share
11
Samin Rezaei
Samin Rezaei

Related posts

July 11, 2023


Read more
Cryptocurrency

Cryptocurrency

June 12, 2023

5 Best Altcoins to Buy in 2023


Read more
June 11, 2023

Golf House


Read more
Nano Water Chip

Nano Water Chip

April 9, 2023

Nano Water Chip


Read more

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

About Us

Parsaland Trading Company with many activities in the fields of import and export, investment consulting, blockchain consulting, information technology and building construction

Departments

  • Application Software
  • Architecture
  • Construction
  • Cryptocurrency
  • Decoration
  • E-Commerce
  • Electronic
  • Energy Saving
  • Health
  • IOT
  • Mechanical

Quick Link

  • Home
  • Startups
  • Blog
  • About Us

Contact Us

  • +989124000464
  • +989127093613
  • info@parsalandco.com
  • parsalandco-company
  • parsalandco_com
  • parsalandco_com