| Revision as of 06:32, 16 June 2021 editGpkp (talk | contribs)Autopatrolled, Extended confirmed users, Pending changes reviewers, Rollbackers41,277 edits Added {{Uncategorized}} tagTag: Twinkle← Previous edit | Revision as of 14:27, 16 June 2021 edit undoYsangkok (talk | contribs)Autopatrolled, Extended confirmed users, Pending changes reviewers, Rollbackers16,857 edits added Category:Bitcoin clients; removed {{uncategorized}} using HotCatNext edit → | ||
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| More details about the Taproot proposal on the bitcoin wiki <ref>{{cite web|url=https://en.bitcoin.it/Taproot_activation_proposals|title=bitcoin wiki page about the Taproot proposal}}</ref> | More details about the Taproot proposal on the bitcoin wiki <ref>{{cite web|url=https://en.bitcoin.it/Taproot_activation_proposals|title=bitcoin wiki page about the Taproot proposal}}</ref> | ||
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Revision as of 14:27, 16 June 2021
Soft fork change in the transaction format of BitcoinTaproot, is the name used for a proposed and agreed soft fork change in the transaction format of Bitcoin.
Bitcoin Improvement Proposal numbers BIP340, BIP341, BIP342 are collectively known as taproot.
Summary of what Taproot will achieve
- Complex transactions, such as those requiring multiple signatures or those with delayed release, indistinguishable from simple transactions in terms of on-chain data.
- Reduce transaction costs: The data size of complex Bitcoin transactions will be reduced, which will lead to lower transaction fees.
- Support for more complicated conditions for a transaction via new type of signature.
- Benefits for the Lightning network: More flexibility, privacy enhancement, lower costs
More details about the Taproot proposal on the bitcoin wiki
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