Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: alltalk on January 25, 2020, 06:46:36 PM
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According to this: https://trybe.one/top-5-bitcoin-trends-and-events-to-watch-in-2020/. We will see Bitcoin's technical upgrades. They are Schnorr, Taproot, and Tapscript.
-With Taproot we will achieve next level of privacy – every transaction – no matter how complicated they will be, will look exactly the same to the outside observers.
-Schnorr, will allow to aggregate and shorten digital signatures. With these both upgrades we expect to lower the transaction fee from 30% to 75% and speed up block validation up to 2 times.
-Another fundamental upgrade is implementation of Typescript – it’s a programming language created by Microsoft as side-language of JavaScript. With Typescript Bitcoin could be optimized even further and developers will be able to detect even more possible errors during code compiling.
So, what do you think guys about this? Will it give big impacts on the Bitcoin price performance this year?
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You beat me about posting about this topic. I was actually reading about this subject since yesterday but I'm still having difficulty grasping the technical aspect. What is clear to me though is that it will increase the level of privacy and it will make transaction faster but fees cheaper. I'm actually happy about the lowering of tx fees but not too sure about the increased privacy. Governments are going after privacy coins already and it might include bitcoin on the list again.
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Schnorr, I am impressed with this topic because with this system it will facilitate transactions for every Bitcoin.
I also see that the system can ease the opening of each mining Block to 75% and this is a very good achievement for Bitcoin miners.
I am not an expert in Bitcoin mining but the fact is that if you can like this this is a good progress for the price of Bitcoin.
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~~What is clear to me though is that it will increase the level of privacy and it will make transaction faster but fees cheaper.~~
Yes, that's true. Schnorr enables users to combine all their transactions to be a single transaction. So, besides improving the privacy level, it also makes cheaper fees and faster transactions.
~~I am not an expert in Bitcoin mining but the fact is that if you can like this this is a good progress for the price of Bitcoin.
Indeed. It is a good progress of Bitcoin development. This technical upgrade will attract people because presenting the advantages related to fees and simplicity in the transaction.