The Taproot update, which was voted for a few months ago, which is officially live. Important news, which changes the way Bitcoin works and can be traded, thanks to the commitment of the team of developers working behind BTC. Taproot is a soft fork for Bitcoin, which follows Segwit a few years later. It adds privacy and fungibility features to the network. It introduces the Schnorr signatures, which will improve its privacy and also guarantee a small space saving. The upgrade was activated on November 14 at block 709.632.
With Taproot there will also be an improvement in the privacy of transactions, because the soft fork allows you to hide the moving parts of a transaction. An important increase in privacy which is also reflected in fungibility. The update also adds complex new features to Bitcoin transactions, such as the request for the use of multiple signatures, and timed issuance, making the network’s possibilities far greater than what was possible until a few hours ago.
The vote for the implementation of Taproot represented, on a moral level, the supremacy of the community over the large companies that deal with mining, and which had not all seemed enthusiastic about this step. A step that marks a new era for Bitcoin, made up of more privacy and greater flexibility. The shift was also expected in terms of timing, so there has been no surprise effect for the markets, which have not experienced major swings, with Bitcoin continuing its fight to break $ 65,000.
There were no technical problems, which also testifies to the structural and technological solidity of the Bitcoin world and of the community that deals with it.
