The long awaited Bitcoin Taproot upgrade is 6 days away. For those of you that don’t know, it basically:
- Unlocks the potential for smart contracts
- Allows for privacy protected transactions
- Lower transaction fees
Bitcoin will become a major DeFi player after this upgrade.
It is the first upgrade for the network since November 2017. Segregated Witness (SegWit) was deployed, and the network forked to create Bitcoin Cash.
The multiple signature part will enable more complex transactions like those used in smart contracts. Developers are already working on smart contracts for the Lightning Network which is Bitcoin’s layer 2 scaling solution.
Anyone here needed a reason to be bullish on BTC?
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