Bitcoin just received a significant update. The Bitcoin network released a code update called "Taproot" that they had been developing for a long time and which was finally released on November 14. The update improves both privacy and security for complicated transactions through new signatures that make them look like any other exchange. Potential thieves or snoopers should have a harder time recognizing when an unusual transfer is taking place.
The Taproot update should also change the scale of the Bitcoin network by removing the existing crypto system. It could be easier for the cryptocurrency to handle the demand.
This is the first major update to the network code since 2017, and it could be timely. While there are some objections to Bitcoin and other forms of digital money, it now has potential users ranging from AMC to the country of El Salvador. An update could help Bitcoin better suit newcomers, not to mention reduce the hassle for veteran cryptocurrency traders.
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