New Bitcoin Core Update Adds Taproot

Written By Guest User

Full article by Andrew Asmakov found here.

Key Points:

  • Developers of the Bitcoin Core protocol have announced the release of the 22nd version of the client. The Bitcoin Core protocol software is run by the thousands of nodes across the world, securing and storing the blockchain in a distributed network.

  • There are several improvements to the software, including support for the upcoming Taproot protocol upgrade that is expected for activation in November.

  • The Taproot upgrade will help simplify transactions by combining public keys from multi-signature transactions into a new public key. This should enhance privacy and reduce the amount of data required for each transaction leading to lower transaction costs and congestion.

  • The Taproot benefits will extend to Lightning Network transactions and other applications to bolster privacy.

  • Other changes to Bitcoin Core 22.0 include full user interface support for hardware wallets such as Ledger and Trezor.

  • It is important to keep an eye on contention following the upgrade as not all network participants agree on every update.

Screenshot 2021-09-14 at 14-27-37 Bitcoin Energy Consumption This Year Already More Than All of 2020 - Decrypt.png
Guest User
Previous

Ethereum’s Wedge
Next

NFT Scaling Startup Immutable Raises $60 Million In Series B Funding