Taproot Bitcoin Win Logic – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

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Jason Lau is the COO of Okcoin.

Almost four years after Bitcoin’s last big update, Taproot is finally locked in and will activate in November. This is a big win for Bitcoin and the entire ecosystem, whether or not you understand the technical intricacies of the upgrade itself. Okcoin will support Taproot when it activates, to ensure that our customers and the network can benefit.

Taproot is a win for everyday users because it will make transactions cheaper: switching from the current standard (ECDSA) to Schnorr signatures will make transactions about 12% more efficient. It is also going to make smart contracts cheaper, by requiring fewer signatures to be broadcast to the blockchain. More efficient block space usage is going to benefit everyone.


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