Subnostr

Taproot continues to advance in adoption, patiently waiting for that 80% of all spending transactions to cross the threshold of 80%, the slow adoption is due to the slow implementation on many awesome wallets used by an abundant amount of Bitcoiners, those wallets are awesome but the delay in the adoption is normally due to their own view of the ecosystem, human nature and its biases, doing the right thing and working for the common wealth is never easy...

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Fix the Money, fix the World,

Not your Keys, not your Bitcoin, be Unconfiscatable

Not your Nostr Relay, not your Data, be Uncensorable

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#Bitcoin

#BTC

#LN ⚡️

#Nostr

#ARK ⚡️⚡️⚡️

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Discussion

Eyeamidol 2y ago

Other than better privacy for multi signature txs, what other positives can we look forward to in taproot?

rod ✪ 2y ago

Smart Contracts.... the irony... but a needed step to move forward...

Plus:

An article from coindesk does a good job explaining further improvements:

Other Taproot improvements

Carman and his colleagues at Suredbits have been working on discrete log contracts (DLCs), a fairly new smart contract logic for Bitcoin that, while working today, will be more flexible and easier to use when Bitcoin’s Taproot upgrade kicks in.

Belcher told CoinDesk that Schnorr signatures will also enable “batched validation” wherein a Bitcoin full node could “validate 1,000 Taproot signatures in nearly the same time it takes to validate one [ECDSA] signature.” This scaling solution would significantly speed the time it takes a node to verify all signatures in a block.

Additionally, Taproot could use “ring signatures” to give users the ability to prove they own certain coins without having to reveal the public key associated with those coins.

Read more: Bitcoin Miners, Developers Narrow Down How Taproot Will Be Activated

“That means someone could prove that they own a certain coin without revealing which exact coin. For example, it would be possible to prove you own at least 1 BTC (or any amount) by doing a ring signature over all the Taproot [unspent transactions] worth more than 1 BTC, and yet it doesn't actually reveal which is yours,” Belcher said.

Source:

https://www.coindesk.com/tech/2021/02/03/how-bitcoins-taproot-upgrade-will-improve-technology-across-bitcoins-software-stack/

Eyeamidol 2y ago

Thanks for the info!