Taproot Bitcoin Update Ready To Activate, But Developers Delayed Launch
The Bitcoin Core development team introduced the Taproot protocol into the cryptocurrency codebase, but decided to delay its activation in order to conduct a “soft” update.
The Taproot protocol includes several important Bitcoin enhancements, including Schnorr-based signature technology that improves complex transaction privacy and functionality.
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For example, multi-signature transactions can be performed immediately after the consent of all parties, or with a delay in the absence of a signature of one of the parties. The Schnorr authentication scheme will also allow disguising multisignature transactions as regular ones and hiding their conditions.
According to the developers, Taproot itself is completely ready to work, but due to the complexity of activation, its functionality was frozen by the codebase to make the protocol compatible with the new main version of the network and implement it as a soft fork. In the meantime, the team will focus on testing and finding bugs.