{"id":366816,"date":"2021-11-14T08:16:04","date_gmt":"2021-11-14T05:16:04","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/breaking-the-bitcoin-network-welcomes-taproot-soft-fork-upgrade\/"},"modified":"2021-11-14T08:16:04","modified_gmt":"2021-11-14T05:16:04","slug":"breaking-the-bitcoin-network-welcomes-taproot-soft-fork-upgrade","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/breaking-the-bitcoin-network-welcomes-taproot-soft-fork-upgrade\/","title":{"rendered":"# BREAKING: The Bitcoin network welcomes Taproot soft fork upgrade"},"content":{"rendered":"<p>&#8220;<strong># BREAKING: The Bitcoin network welcomes Taproot soft fork upgrade <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvNWEzODY1MmEtOTIyYS00OGE0LWI5ODUtN2ZmNDU3NjY3YzUxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>The Bitcoin (BTC) network successfully activated the Taproot soft fork following a 90% lock-in consensus from miners and mining pools between blocks 709,488 and 709,632. The milestone signifies the first major upgrade for Bitcoin since August 2017, which saw the launch of Bitcoin\u2019s leading layer-two solution, the Lightning Network and Segregated Witness (SegWit).<\/p>\n<p>The Taproot upgrade aims to improve the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">script<\/a>ing capabilities and privacy of the Bitcoin network. To do this, the soft fork introduces the concept of Merkelized Abstract Syntax Tree (MAST). <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/taproot.watch\/about\">According<\/a> to a Taproot-dedicated website run by prominent Bitcoin developer <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hampus_s\">Hampus Sj\u00f6berg<\/a>:<\/p>\n<blockquote><p>\u201c[MAST] can help make smart contracts more efficient and private by only revealing the relevant parts of the contract when spending.\u201d<\/p><\/blockquote>\n<p>Speaking to Cointelegraph, Sj\u00f6berg pointed out that Taproot activation shows that Bitcoin can do network upgrades again, which is extremely important for the longevity of the Bitcoin network. \u201cI think that\u2019s the greatest win,\u201d he added.<\/p>\n<p>Sj\u00f6berg, who is also a developer of a Bitcoin Lightning wallet Blixt Wallet, believes that the Taproot upgrade allows exploring off-chain capabilities, as to not put too much burden on the Bitcoin nodes of the network.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Taproot is a 100 years softfork.<\/p>\n<p>Merging every contract and use-case under a single transaction type &#8220;Pay to Taproot&#8221; will in the long-run yield a more fungible and robust blockchain.<\/p>\n<p>This is how you do it.<br \/>This is how you design a blockchain.<\/p>\n<p>\u2014 Hampus Sj\u00f6berg \u26a1 (@hampus_s) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hampus_s\/status\/1400479761605009409?ref_src=twsrc%5Etfw\">June 3, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In addition, Sj\u00f6berg believes that MAST can also help improve the privacy of the older Lightning Network \u201cif the Lightning implementations choose to adopt Taproot.\u201d The developers of the various Lightning Network node implementations met in Zurich, Switzerland just a few weeks ago at the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/lists.linuxfoundation.org\/pipermail\/lightning-dev\/2021-November\/003336.html\">LN Summit 2021<\/a> to discuss possible upgrade paths:<\/p>\n<blockquote><p>\u201cOne of the things that were discussed in the meeting was whether it&#8217;s best to upgrade Lightning in small iterations or do it as one big package.\u201d<\/p><\/blockquote>\n<p>Moreover, Sj\u00f6berg explained how payment channels under normal circumstances can be made indistinguishable from normal transactions using Taproot for the Lightning Network:<\/p>\n<blockquote><p>\u201cIt&#8217;s not possible to tell if a Taproot transaction is just a normal payment or if it belongs to a Lightning channel. This is important for the fungibility and thus the censorship resistance of Bitcoin.\u201d<\/p><\/blockquote>\n<p>Taproot\u2019s successful activation is attributed to Speedy Trial, a soft fork deployment method that requires 90% of the miners to signal the deployment of the upgrade. As explained by Sj\u00f6berg, \u201cthe signaling method works in periods of 2016 blocks, meaning that within a 2016 block period, 90%, or 1815 of the 2016 blocks have to signal for readiness.\u201d<\/p>\n<p>Back in June 2021, the Bitcoin miners achieved a 90% consensus for the first time and Sj\u00f6berg tweeted the announcement:<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">WE HAVE LOCK IN!  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Taproot?src=hash&amp;ref_src=twsrc%5Etfw\">#Taproot<\/a><\/p>\n<p>Video by: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheGuySwann?ref_src=twsrc%5Etfw\">@TheGuySwann<\/a>!<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/rCUp5VNCBX\">https:\/\/t.co\/rCUp5VNCBX<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/YFLMTenWW0\">pic.twitter.com\/YFLMTenWW0<\/a><\/p>\n<p>\u2014 Hampus Sj\u00f6berg \u26a1 (@hampus_s) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hampus_s\/status\/1403688579440783367?ref_src=twsrc%5Etfw\">June 12, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>However, the Taproot upgrade also marks the end of Speedy Trial deployments and future upgrades to the Bitcoin network will require provision for new soft fork deployment methods. &#8220;Taproot opens a world of possibilities, but the first thing I personally would like to see is a &#8220;MuSig 2&#8243; transaction.&#8221;\u00a0Sharing advice for fellow Bitcoin developers, Sj\u00f6berg said: <\/p>\n<blockquote><p>\u201cWhile we should not take anything for granted in Bitcoin, I personally would like to eventually see &#8220;Cross-Input Signature Aggregation&#8221; as a future soft fork for Bitcoin.\u201d<\/p><\/blockquote>\n<p><strong>Related: <\/strong><strong><em>Bitcoin Lightning nodes and channels hit record highs<\/em><\/strong><\/p>\n<p>\u00a0In Bitcoin&#8217;s near 13 years of existence, the Bitcoin network has undergone numerous community-driven hard and soft forks. While the Taproot upgrade is yet to prove its worth in time to come, the Lightning Network continues to attain new heights.<\/p>\n<p>On Sept. 28, the Lightning Network witnessed a 160% increase in the number of nodes in the span of 12 months in addition to seeing a jump of 170% in the number of channels since January 2021. <\/p>\n<p>As of Nov. 11, Bitcoin\u2019s network capacity prior to Taproot soft fork was at an all-time high of 3,220 BTC, nearly worth $210 million.\u00a0<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/breaking-the-bitcoin-network-welcomes-taproot-soft-fork-upgrade\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# BREAKING: The Bitcoin network welcomes Taproot soft fork upgrade &#8221; The Bitcoin (BTC) network successfully activated the Taproot soft fork following a 90% lock-in consensus from miners and mining pools between blocks 709,488 and 709,632. The milestone signifies the first major upgrade for Bitcoin since August 2017, which saw the launch of Bitcoin\u2019s leading&#8230;<\/p>\n","protected":false},"author":1,"featured_media":366818,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTEvNWEzODY1MmEtOTIyYS00OGE0LWI5ODUtN2ZmNDU3NjY3YzUxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[15047,74862,74989,74894,77946,75434,76098,118601,103657,74355],"class_list":["post-366816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-privacy","tag-bitcoin","tag-bitcoin-mining","tag-blockchain","tag-mine","tag-smart-contracts","tag-soft-fork","tag-softfork","tag-upgrade","tag-adoption"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/366816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=366816"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/366816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/366818"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=366816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=366816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=366816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}