the staff of the Ridgewood blog
Ridgewood NJ, Bitcoin’s Taproot update has gone live with near-universal support. The update will bring greater transaction privacy through Schorr signatures, which will make simple transactions indistinguishable from multi-signature transactions. Taproot allows for cheaper and smaller smart contracts and the update presents a lot of potential for developers. While the Bitcoin community had agreed on the changes back in June, the update was delayed due to testing to reduce the likelihood of something going wrong.
These souped-up signatures are also a game changer for smart contracts, which are self-executing agreements that live on the blockchain. Smart contracts could theoretically be used for practically any kind of transaction, from paying your rent each month, to registering your vehicle. Taproot makes smart contracts cheaper and smaller, in terms of the space they take up on the blockchain.
I really thought this was just a fad.
makin’ tons o’ money on vapor… crazy!