HomeNewsBitcoin’s biggest upgrade taproot since 2017
Bitcoin’s biggest upgrade taproot since 2017
This upgrade will introduce what’s called Schnorr signatures-which will help Bitcoin transactions become more private, efficient, and cost-efficient.
With Taproot coming into the picture, multiple transactions could be done to a Bitcoin wallet, which can be hashed under one transaction and can be useful for streamlining various applications, such as enabling transactions to happen from multiple parties to one wallet.
Schnorr signatures used by the Taproot upgrade will also reduce the amount of data needed for multi-signature transactions, which are more complicated to process than standard ones.