Spotlight

Bitcoin Activates Its Biggest ‘Taproot’ Update In Four Years: What Is It?

bitcoin

Spotlight

The cryptocurrency revolution has just gotten to the next level as the world’s most valuable crytocurrency Bitcoin had it’s biggest update go live in four years.

bitcoin

Spotlight

Bitcoin is currently exchanging hands at $64,600 per unit and there is a lot of speculation that it will hit the $100k mark by the end of 2021.

bitcoin

Spotlight

According to renowned crypto research group Arcane Research, “Taproot is arguably the most important and anticipated upgrade to the Bitcoin network since Segregated Witness (SegWit)

bitcoin

Spotlight

The Taproot update is described as the ‘update for the ages’ by cryptocurrency exchange Kraken. It labels the update as innovative and most significant to date.

bitcoin

Spotlight

Diving into the technicalities, the Bitcoin Taproot update is composed of three Bitcoin Improvement Proposals (BIPs). They are: Schnorr Signatures, Taproot, and TapScript.

bitcoin

Spotlight

According to Arcane Research, the BIP enable new form of payment knwon as Pay-to-Taproot (P2TR).

bitcoin

Bitcoin Activates Its Biggest ‘Taproot’ Update In Four Years: What Is It?