Taproot, the largest Bitcoin update in the past 4 years, was released on the 14th of October, 2021.
Taproot is a technology that improves the flexibility of smart contracts and the privacy of transactions on the bitcoin network. The Taproot scheme was described in 2018 by Gregory Maxwell – Bitcoin Core developer.
Among many positive changes the updatesbring, market participants highlight the following:
🔸 Increasing the confidentiality of transactions in the cryptocurrency network.
🔸 Potential reduction in commissions.
🔸 Increasing the bandwidth of the bitcoin network.