Bitcoin is Scheduled for a Privacy Related Upgrade Taproot at the End of This Year
There have been talks of Ethereum being scheduled for various updates over the years that have brought stability and efficiency to its blockchain. First, a Berlin upgrade provided the blockchain of Etheruem with a great many bug fixes and a boost in performance. But that wasn’t enough, and many more upgrades are on their way for Ethereum’s blockchain.
This time around, Bitcoin is receiving a major upgrade and is scheduled for it by the end of this year, known as Taproot. The trial for the update has already begun last month, which means that the upgrade is being checked by being made a part of Bitcoin’s blockchain, and soon the results will be up.
Bitcoin’s Efficiency and Stability will Increase as a Whole after the Integration of the Taproot Upgrade
These results will dictate if the upgrade is ready for a massive rollover or there is a need to do certain editing and revisions at particular spaces. Taproot is the second major upgrade to be ever made a part of Bitcoin’s network after the Segregated Witness upgrade back in 2017. The full commencement of the upgrade is set for a specific network block which is 709362, and it is scheduled for mid-November.
Given the current rate of adoption for Bitcoin, which is steadier than its price performance in the crypto market, having these upgrades roll out and being checked by enthusiasts is a great way of advertising how safe and consistent Bitcoin’s blockchain is. Given all the talk about the environmental concerns of Bitcoin mining, many people are confusing this upgrade for something that will help to ease down the effect of Bitcoin mining onto the environment by reducing fossil fuel usage, but Taproot is not about that at all.
The Taproot will be covering the privacy, security, and stability-related issues for Bitcoin’s blockchain. It will also help to boost the adoption of Bitcoin in many financial circles. The upgrade code was merged with a wider Bitcoin core codebase only in the last year or so, which means that the upgrade is legit and will bring tons of improvements to Bitcoin’s blockchain.
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