What is “Taproot”, a major Bitcoin update that will be implemented for the first time in four years?
Bitcoin’s Taproot update is the biggest change expected for the Bitcoin blockchain since 2017 and is waiting for another vote. Will it still work? Taproot was first proposed in 2018 by Gregory Maxwell, a contributor to Bitcoin Core (BTC) and former Chief Technology Officer of Blockstream, a Bitcoin and blockchain technology company. The Taproot update will be rolled out in November if more than 90% of the miners announce support by August 11, and is expected to enhance Bitcoin’s smart contract capabilities and enhance privacy. I am. The proposed soft fork also requires a sufficient number of miners to “notify” support through the block creation process. This is an activation requirement that has not yet been met. The proposed update combines the Schnorr signature scheme with the Merklized Alternative Script Tree (MAST) to take advantage of a new scripting language called Tapscript.https://forkast.news/taproot-bitcoin-hard-soft-fork…/#bitcoin