Taproot

Cardiff, 英国, May 26th, 2024, Chainwire On May 20, 2024, the Bitcoin Layer2 development team BEVM released the technical yellow paper titled "Taproot Consensus: A Decentralized BTC Layer2 Solution." This paper details the implementation of Taproot Consensus, leveraging native Bitcoin technologies such as Schnorr signatures, MAST, and Bitcoin SPV nodes to build a fully decentralized BTC Layer2 solution. Taproot Consensus represents a significant leap in native Bitcoin scalability, combining existing Bitcoin technologies innovatively without modifying Bitcoin's core code. I. History…

Bitcoin has been the premier cryptocurrency of the last decade. Nonetheless, cryptos have been gaining popularity, with their adoption achieving good traction along the way. However, it is vital to keep this technology up-to-date, and the answer lies in ecosystem upgrades. Similar to the ETH 2.0 upgrade, BTC is also receiving its first update in four years. The Taproot upgrade may be the key to transcending the Bitcoin blockchain into the smart contract era. Read on to learn more about the Taproot upgrade…

With all its problems and issues, Bitcoin has always been the de facto cryptocurrency leader. Consequently, every crypto investor or enthusiast has always seen BTC as a key investment step and the largest hope in achieving mass adoption of cryptos worldwide. However, the Bitcoin blockchain has not had any major upgrades for about 4 years since the launch of SegWit in 2017. As a result, major issues still exist in the form of security, privacy, and scalability. The taproot upgrade…

The Bitcoin network is about to experience unprecedented scalability thanks to impending upgrades. Announced last month the Schnorr Signature and Taproot Softfork upgrades are the most ambitious that the decade-old network has undertaken yet. Although initially a pull request, it transformed into a distinctive development when it became a formal proposition for a Bitcoin Improvement Proposal [BIP]. In addition to improving scalability to accommodate the daily users, the upgrade will enhance their privacy. Simple and Efficient The Schnorr signature scheme…