Bitcoin
$9,775.74 -0.52%
BTC · 4w

Taproot/Schnorr Update Registered as a Proposal to Improve Bitcoin

Taproot/Schnorr Update Registered as a Proposal to Improve Bitcoin

Bitcoin Core developer Pieter Wuille this Friday announced the formalization of the Schnorr / Taproot software fork as suggestions for improving Bitcoin BIP 340, 341 and 342.

It is expected that the update will be one of the most important in the history of Bitcoin and will have a significant impact on scalability, privacy, the functionality and interchangeability of coins of the first cryptocurrency.

Wuille explained that the authors of the proposal did not intend to change it unless serious flaws were found in the process of studying the community.

“That means that these documents are our final proposal for integrating Schnorr and Taproot into Bitcoin. Whether it gets accepted by the ecosystem, and how, is up to you,” he explained.

Earlier this week, Wuille designed a request for changes to the Bitcoin Core repository on GitHub to reflect the new BIPs in it. Thanks to this, all interested representatives of the ecosystem will be able to take part in the work carried out by Wuille and a limited circle of his associates.

The approval of the changes will require the consent of the majority of players in the Bitcoin system — only then the soft fork can be successfully completed. There are currently no significant objections to the update.

Author: Marko Vidrih

Featured image credit: Pixabay

Go to medium.com
Recent news
BTC -0.52% · cryptopolitan.com · 16h

New EU crypto law set to boost mainstream crypto adoption

As the new EU crypto law comes into effect following the implementation of ‘Fifth Anti-Money Laundering Directive’ (AMLD5), the sector will receive a much-awaited push in the region. As per the new re...
BTC -0.52% · anchor.fm · 19h

Bitcoin Rapid-Fire: Rapid-Fire: Jeff Vandroux

Jeff Vandroux is an attorney, CPA, bodybuilder, BTCPayServer Contributor, and the founder of Keykeeper IRA. I came to know Jeff via his discussion with Marty Bent on the Tales from the Crypt Podcast. ...