Leading cryptocurrency Bitcoin (BTC) The first and biggest update in a long time for taproot, officially activated.
When it comes to the planned block range, the update released by the miners to the game was officially activated with 90% of the miners getting unity.
After the decision taken between Block 709.488 and 709.632, it can also be seen on the blockchain where Taproot was activated.
Bitcoin Gets Taproot
This update is known as the first big step for Bitcoin since August 2017.
At that time, Bitcoin had implemented the Lightning Network and Segregated Witness updates at the peak of the bull market. The Taproot update, on the other hand, aims to increase the scalability and privacy of the network, and this is why it is very important.
The soft fork in question uses encryption and a concept known as the Merkelized Abstract Syntax Tree (MAST). According to the information on the Taproot website, MAST can directly make smart contracts much more efficient and confidential. Thanks to this signature, when an expenditure is made, only a part of the expenditure is shared, not all the details.
Bitcoin developer Sjöberg stated that activating Taproot on the network is actually something very important to the sustainability and longevity of the Bitcoin network. Stating that Taproot is home to a development that has been studied for 100 years, Sjöberg was the name that pioneered this renewal, and BTC rose 1.6% in 24 hours.