Bitcoin advocates are celebrating the successful implementation of the Taproot upgrade after block height 709,632. The upgrade was highly anticipated as it was one of the biggest changes since the introduction of Segregated Witness (Segwit) in 2017. After the upgrade was completed, the Bitcoin community discussed the slew of benefits Taproot and Schnorr signatures have to offer and have started measuring Taproot usage as well.
Taproot Has Been Activated on the Bitcoin Blockchain
At 12:15 a.m. (EST) at block height 709,632, at difficulty period 352, Taproot was officially activated on the Bitcoin (BTC) blockchain. The upgrade was long-awaited as it’s an improvement that’s taken seven years to complete.
— jack⚡️ (@jack) November 14, 2021
Taproot allows users to operate Bitcoin scripts in a myriad of ways in order to improve privacy, scalability, and security. Combining Taproot with an improvement called Schnorr signatures allows for more compact transactions and k