The use off #bitcoin taproot, single and multi sig

Show Notes

#taproot is an upgrade to Bitcoin which brought several new features and benefits to Bitcoin users. The Bitcoin community activated Taproot at block 709,632 on November 12th, 2021. The Taproot upgrade is composed of three Bitcoin Improvement Proposals (BIPs) which define three distinct upgrades to the Bitcoin protocol: Schnorr Signatures (BIP 340) Taproot (BIP 341) Tapscript (BIP 342) Together, these three upgrades are known as the Taproot upgrade, often collectively referred to as BIP Taproot. These BIPs introduced new, more efficient, flexible, and private ways of transferring bitcoin. In terms of Bitcoin, Taproot is what’s considered a soft fork. This essentially means it’s a backward-compatible upgrade. It can include new transaction types, security features, and many other types of upgrades. What separates a soft fork from a hard fork is that only a network majority must agree to upgrade for it to come into effect. With a hard fork, the entire network must agree, making previous blocks entirely invalid. Listen to the full episode - https://youtu.be/D73KlTK6bu8 Listen to the episode with Samourai - https://youtu.be/Yepv7N_jCAg Ungovernable Misfits Home Base https://ungovernablemisfits.com