Taproot Locks In – Bitcoin Magazine: Bitcoin News, Articles, Charts and Guides

Bitcoin is getting updated.

Taproot, the update to the Bitcoin protocol that makes smart contracts more private and compact, has been blocked. As of now, more than 90 percent of all blocks to be mined in the current difficulty period have signaled support for the update, meaning that Bitcoin Core versions 0.21.1 and the newest ones will start enforcing the new rules in November this year, as will the alternative Taproot activation client.

Main root

Taproot is the first Bitcoin protocol update to go live since Segregated Witness went live in 2017. First proposed by former Blockstream CTO Gregory Maxwell and developed by Bitcoin Core contributors including Pieter Wuille, Anthony Towns, Johnson Lau, Jonas Nick, Andrew Poelstra, Tim Ruffing, Rusty Russell, and Maxwell himself, Taproot will make Bitcoin’s smart contract features more compact, potentially more private, and in some cases a bit more flexible. As a soft fork, the update is backward compatible as long as most miners enforce the new rules.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top