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Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: Fawpac2 on July 03, 2021, 11:42:56 PM

Title: How Taproot Might Affect Bitcoin’s Competitiveness
Post by: Fawpac2 on July 03, 2021, 11:42:56 PM

Taproot is on its way. The long-awaited Bitcoin (BTC) upgrade has been confirmed, after it passed the minimum threshold of 90% miner approval in mid-June, meaning that it will be implemented in November.
While the core features of Taproot — increased privacy and enhanced wallet scripting — are fairly well-known, what will the upgrade's impact be on Bitcoin in a wider sense? Will it attract more adoption, take users away from privacy coins, or even incur the wrath of regulators?
The answers to these questions are fairly mixed, according to a range of Bitcoin developers. Because while Taproot’s features might attract greater use of Bitcoin, it may also take a while before applications and Bitcoin-based services make full use of them, with protocols having to be built on top of Bitcoin before cost-saving and privacy features have a significant impact.source (https://cryptonews.net/950657/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)