Notice to surfers, or bitcoin investors in this case: Taproot has already been activated. After weeks of rumors, the latest update of this cryptocurrency has finally come into operation in the block 709,632 protocol during the early hours of this Sunday, November 14.
It is a collection of three upgrade proposals – Taproot (BIP 341), Schnorr (BIP 340) and Tapscript (BIP 342) – that will make bitcoin transactions more private and efficient at lower cost. Also, with Taproot, smart contracts on the blockchain will become more flexible and complex.
The improvements in privacy stand out, one of the main attractions for investors when it comes to investing in bitcoin and one of the biggest concerns of governments and banking entities. The Schnorr cryptographic signature generation algorithm will allow transactions with multiple signatures or addresses to be indistinguishable from single ones by appearing as a single standard transaction.
Taproot is the first major bitcoin update since 2017 and, although it brings significant changes, it is still compatible with old versions of the Bitcoin Core client, they point out from Criptonoticias. The only difference is that those users will not be able to receive or relay Taproot transactions.
India advances in the adoption of cryptocurrencies
Meanwhile, governments around the world continue to debate what position to take on cryptocurrencies. Countries like it and others, such as India, are considering implementing more progressive measures.
In a turnaround, the Indian government is now considering introducing a cryptocurrency bill. For the moment, they have proposed to end attempts at deception and money laundering and financing of terrorism in the cryptocurrency market, according to Bloomberg.
The Asian country’s relationship with cryptocurrencies has been tense. In 2018, Prime Minister Narendra Modi tried to ban transactions using these digital assets, a decision that the country’s Supreme Court overturned in March 2020. For its part, the Reserve Bank of India’s stance has also fluctuated in recent years. Last few years: Although still critical, he is working on the development of a digital currency.
11471734
Facebook Comments
Disqus