Bitcoin soft fork days away as Taproot upgrade closes in By Cointelegraph – Investing.com
- Date: 07-Nov-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Bitcoin soft fork days away as Taproot upgrade closes in By Cointelegraph – Investing.com
Real-world use cases are one of the main adoption drivers for every crypto ecosystem, which also holds true for the (BTC) network. In the next seven days, the Bitcoin protocol will undergo a soft fork in the name of Taproot upgrade, which aims to improve the network’s privacy, efficiency and smart contracts capability.
Taproot is Bitcoin’s first major upgrade since August 2017, which saw the introduction of Segregated Witness (SegWit) and resulted in the launch of Lightning Network. While the previous fork primarily sought to fix transaction malleability and improve Bitcoin’s network scalability, the Taproot upgrade aims to revamp transaction efficiency, privacy and support smart contracts initiatives.
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