Preparing for the update of the Bitcoin protocol Taproot

Six months after the publication of the proposal to improve the Bitcoin Network Taproot, the crypto community began to actively discuss the procedure for its implementation.

In January, the developer team proposed a protocol update that improves scripts and instructions attached to each transaction. This will allow you to create wallets with several owners, add more complex functions, such as multitasking transactions, temporary locks, as well as increase the privacy level of some operations.

The problem is that TAPROOT activation requires a softforward, as in the case of Segwit, support most network participants and long-term adoption. Therefore, the developers suggested a hybrid system that will reduce the update, in the event of a consensus during the year, and then establish a delayed activation procedure.

However, even in case of rapid harmonization of changes, the transition process may take months or even years.

According to the developers, although Taproot will increase the confidentiality of the Bitcoin network, but the transaction can still be traced using special tools, so fraudsters and criminals will not be able to get any benefit from it.

In parallel with the improvement of the main network, several commands work on the solutions of the second level. Previously, we reported the release of the Specifications of the new authentication system for Lightning Network, which allows

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