Home Coins Bitcoin On Saturday, the Taproot Bitcoin network should be updated

On Saturday, the Taproot Bitcoin network should be updated

Taproot

In the coming days, the bitcoin network should be updated, and most sources call Saturday as the activation date

is an update that will improve bitcoin’s scripting capabilities, bringing it into line with competing blockchains like , which already have programmable smart contracts.

will also introduce MAST (Merkelized Abstract Syntax Tree) technology, which will make it difficult to track and analyze BTC transactions. This will be achieved due to the fact that complex transactions, such as multisignature and Lightning Network transactions, will become indistinguishable from basic transactions.

In addition, the update will introduce Schnorr signatures, which will reduce the size of transactions due to data aggregation.

Together, the above features will allow developers to create more comprehensive bitcoin applications, and end users will benefit from cheaper and more confidential transactions.

Taproot is the most significant update of the bitcoin network since 2017 (when the SegWit function was introduced). Although the update has already received support from miners, 800 blocks will need to be mined to activate the process. According to NiceHash, the update will take place at 1:00 UTC on Saturday, November 14. Another website, Taproot.watch, shares this assessment.

Probably, the expectation of an update was one of the factors that contributed to the growth of the BTC and the renewal of historical highs. It is possible that the hype around Taproot is exhausted, but there is a chance that Saturday’s update will lead BTC to higher highs.

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