{"id":14302,"date":"2021-11-14T18:54:07","date_gmt":"2021-11-14T18:54:07","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/highly-anticipated-bitcoin-upgrade-taproot-activates-taproot-script-spends-seen-in-the-wild\/"},"modified":"2021-11-14T18:54:07","modified_gmt":"2021-11-14T18:54:07","slug":"highly-anticipated-bitcoin-upgrade-taproot-activates-taproot-script-spends-seen-in-the-wild","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/highly-anticipated-bitcoin-upgrade-taproot-activates-taproot-script-spends-seen-in-the-wild\/","title":{"rendered":"Highly Anticipated Bitcoin Upgrade Taproot Activates \u2014 Taproot Script-Spends Seen in the Wild"},"content":{"rendered":"

Bitcoin advocates are celebrating the successful implementation of the Taproot upgrade after block height 709,632. The upgrade was highly anticipated as it was one of the biggest changes since the introduction of Segregated Witness (Segwit) in 2017. After the upgrade was completed, the Bitcoin community discussed the slew of benefits Taproot and Schnorr signatures have to offer and have started measuring Taproot usage as well.<\/strong><\/p>\n

Taproot Has Been Activated on the Bitcoin Blockchain<\/h2>\n

At 12:15 a.m. (EST) at block height 709,632, at difficulty period 352, Taproot<\/a> was officially activated on the Bitcoin (BTC<\/a>) blockchain. The upgrade was long-awaited as it\u2019s an improvement that\u2019s taken seven years to complete.<\/p>\n

709632 ?<\/p>\n

\u2014 jack\u26a1\ufe0f (@jack) November 14, 2021<\/a><\/p>\n<\/p>\n

Taproot allows users to operate Bitcoin scripts in a myriad of ways in order to improve privacy, scalability, and security. Combining Taproot with an improvement called Schnorr signatures<\/a> allows for more compact transactions and key aggregation, which provides a multi-faceted array of multi-signature transaction schemes. Schnorr offers three major benefits according to the codebase introduction on Github:<\/p>\n

Provable security: Schnorr signatures are provably secure. In more detail, they are strongly unforgeable under chosen message attack (SUF-CMA).
\nNon-malleability: The SUF-CMA security of Schnorr signatures implies that they are non-malleable. On the other hand, ECDSA signatures are inherently malleable.
\nLinearity: Schnorr signatures provide a simple and efficient method that enables multiple collaborating parties to produce a signature that is valid for the sum of their public keys.<\/p>\n

The collaboration technique or key aggregation \u201cis the building block for various higher-level constructions that improve efficiency and privacy, such as multi-signatures and others,\u201d the Github description adds.<\/p>\n

The Schnorr signature scheme is combined with MAST (Merklized Alternative Script Tree<\/a>), which essentially creates a new script language called Tapscript. The Taproot activation page on Github now says: \u201cTaproot locked-in. Thanks miners.\u201d After Taproot was activated a great number of crypto supporters discussed the implementation on social media.<\/p>\n

\u201cThe Taproot upgrade for Bitcoin has officially [been] activated,\u201d bitcoin investor Anthony Pompliano tweeted<\/a> after the upgrade. \u201cCongratulations and thank you to every developer, miner, and Bitcoiner who made this happen.\u201d Another individual dubbed \u2018Hashoveride\u2019 tweeted<\/a>:<\/p>\n

Taproot activated! Bitcoin upgraded! This is how consensus is formed and upgrades are done! Incredibly slow, non-controversial, and not forced. Y\u2019all better recognise. [Bitcoin] ready to fly.<\/p>\n

Bitcoin Developer Pieter Wuille: \u2018At Long Last, BIP341\/342 (\u201cTaproot\u201d) Are Active on Bitcoin Mainnet\u2019<\/h2>\n

Bitcoin Core developer Pieter Wuille also discussed the successful soft fork on Twitter and thanked all the network participants.<\/p>\n

\u201cAt long last, BIP341\/342 (\u201ctaproot\u201d) are active on Bitcoin mainnet. Thanks to everyone involved for getting us this far,\u201d Wuille tweeted<\/a>. \u201cThe real work will be in building wallets\/protocols that build on top of it to make use of its advantages. I\u2019m very excited to see where that takes us,\u201d the Bitcoin developer added. Other bitcoin fans shared data<\/a> of Taproot being used in the wild. For instance, Alekos Filini wrote:<\/p>\n

A modified version @bitcoindevkit<\/a> made this transaction. It\u2019s a Taproot script-spend with a 1-of-2 multisig that uses the new `OP_CHECKSIGADD.` It looks like this is the first ever `OP_CHECKSIGADD` used on Bitcoin! It\u2019s the third Taproot script-spend in the block, but the two coming in before didn\u2019t use that opcode.<\/p>\n

Additionally, the blockchain analysis Open Exploration Tool (oxt.me) tweeted about Taproot usage on the Bitcoin blockchain<\/a> after the successful implementation. \u201cIt\u2019s happening #Taproot,\u201d the oxt.me Twitter account said<\/a>, sharing a Taproot usage chart. Bitcoiner Lyle Pratt<\/a> also talked about the benefits of Taproot and explained why he was excited.<\/p>\n

\u201c[Three] reasons I\u2019m personally excited about Taproot,\u201d Pratt wrote. \u201c1) the upgrade process gave us a good recipe for future upgrades. 2) taproot will help proliferate new DLCs services and use cases, eventually bringing them to Lightning. 3) 1 mil+ participant multisig federations are now possible.\u201d<\/p>\n

When asked by another individual what the benefits of federated multi-sig for many participants would be, Pratt responded by noting: \u201cMuch more decentralized pools of signers or oracles are now possible. Pre-taproot about ~15 p2sh signers was the practical limit.\u201d<\/p>\n

What do you think about the successful implementation of the Bitcoin upgrade Taproot and the community\u2019s opinion about the latest soft fork? Let us know what you think about this subject in the comments section below.<\/strong><\/em><\/p>\n

Bitcoin News
\nTechnology, 709632, Alekos Filini, Anthony Pompliano, Bitcoin, Bitcoin (BTC), Bitcoin network, bitcoindevkit, block height 709632, BTC network, Codebase, future upgrades, github, key aggregation, Linearity, Non-malleability, oxt.me, oxt.me Taproot use, Pieter Wuille, Provable security, Schnorr Signatures, Taproot, Taproot script-spend, technology, Upgrade<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin advocates are celebrating the successful implementation of the Taproot upgrade after block height 709,632. The upgrade was highly anticipated as it was one of the biggest changes since the introduction of Segregated Witness (Segwit) in 2017. After the upgrade was completed, the Bitcoin community discussed the slew of benefits Taproot and Schnorr signatures have…<\/p>\n","protected":false},"author":0,"featured_media":14303,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-14302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14302"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=14302"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/14302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/14303"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=14302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=14302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=14302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}