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.