• Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
Subscribe
  • Login
  • Register
No Result
View All Result
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics
No Result
View All Result
No Result
View All Result

Bitcoin Upgrades Successfully

14/11/2021 17:15
No comments
Bitcoin Taproot upgrade, Nov 2021

After four years of development, bitcoin has finally upgraded this Sunday at block number 709,632 to activate Taproot.

The first transaction, pictured above, contained a ‘hidden’ message greeting bitcoin’s first upgrade in four years with “gm Taproot” or good morning Taproot.

Some compare it to segwit, the highly contentious 2017 upgrade that increased capacity to 2MB per ten minutes, where it remains.

Taproot however has not been contentious, with it less a path setting upgrade and more an incremental improvement deep in the pipelines that provides some efficiency in signature aggregation.

When you make a bitcoin transaction, you have to sign with a private key. This allows for the bundling of such signatures when many of them are used and for hiding whether one or many signatures are used.

From an investors’ perspective, the network is now a bit more efficient and its second layer, the Lightning Network, might have a bit more capabilities as it moves towards Channel Factories to compress onboarding and exiting.

Fees might also become a bit cheaper, but unlike other upgrades for most blockchains, bitcoin’s price has fallen a bit to $63,700 from $64,200.

That might not have much to do with this, but four years for the tiniest upgrade is probably an indication that nothing is quite happening in bitcoin at the protocol level.

Which is precisely how some want it, a tweaking at the edges while other networks create whole industries in defi and NFTs and stand on the brink of proper scaling.

Related Posts

Lido Staking Share, June 2022

Lido Votes Against Limiting Staking

Defi dapps DNS hijacked, June 2022

Defi Dapps DNS Attacked

Eminem Apes

Cristiano Ronaldo Binances

Load More
  • Trending
  • Comments
  • Latest
Grayscale's Bitcoin Trust price, June 2022

Grayscale’s Bitcoin Price Falls to $12,000

Ethereum longs, June 2022

Ethereum Longs Spike

Defi dapps DNS hijacked, June 2022

Defi Dapps DNS Attacked

Bitcoin and other asset prices, June 2022

Bitcoin Drops Below $20,000

Lido Staking Share, June 2022

Lido Votes Against Limiting Staking

Defi dapps DNS hijacked, June 2022

Defi Dapps DNS Attacked

Eminem Ape

Eminem Apes

Cristiano Ronaldo partners with Binance on NFTs

Cristiano Ronaldo Binances

Comments

Latest News

  • Lido Votes Against Limiting Staking
  • Defi Dapps DNS Attacked
  • Eminem Apes

About Trustnodes

Terms of Service

Privacy Policy

Our Ethics and Values

Trustnodes Newsletter

Trustnodes © 2017-2022. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Markets
  • Crypto
  • Web3
  • Culture
  • Opinion
  • Politics

Trustnodes © 2017-2022. All Rights Fully Reserved. For any Enquiries contact@trustnodes.com RSS Feed

Welcome Back!

Login to your account below

Authenticate with MetaMask Loading...

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?