Proposals to improve Bitcoin from 340 to 342 were included in the Bitcoin token base on Thursday, indicating that the expected Taproot update is ready.

Taproot and the technology associated with Schnorr’s signature are the most important bitcoin update in the last year. Basically, it is a privacy enhancement for complex bitcoin spending conditions such as multi-signature transactions, temporary locks and other conditions based on bitcoin scripts.

As previously mentioned, Taproot hides all additional expense terms except the one where it was activated. For example, a transaction may be completed immediately if all four signatories agree, or it may take some time before the funds are opened if there are only three of four signatories. Usually an outsider can identify all possible conditions, but with Taproot they will only see which condition was triggered.

Also, thanks to Schnors signatures, a multitasking transaction can be made separate from regular transfer. It should be noted that Taproot does not make any changes to mixing protocols such as CoinJoin, which are still easy to distinguish.

Although the Taproot source code was submitted for review in January, some complexities, mainly related to Schnor signatures, need significant improvement.

The proposals have been fully reviewed by the major Bitcoin developers and are ready to be included in the client version. Peter Vwil, chief developer at Taproot, told Cointelegraph that “everything has been done except activation.”

Cointelegraph previously reported that it may take some time to reach an agreement on activation. This process is likely to take several years, although Taproot is generally considered less controversial than previous updates such as SegWit.

The process begins as soon as the activation code is included in the core of bitcoin, which allows miners to confirm that they are included. But it seems that Taproot came in at the wrong time for immediate activation.

“Taproot is not ready to go yet,” Jonas Nick, Blockstream researcher and Bitcoin core developer, told Cointelegraph.

He explained that the activation logic is not included in the main release at all, referring to the upcoming release 0.21. The source code was frozen on Thursday and eventually became the base code for Taproot. From now on, however, small bug fixes will be added. Explain why developers are cautious, Nick said:

Large releases may include changes in dependencies and interfaces (for example, RPC). Users should be able to run softfork activation logic without the extra work required to comply with the new major release. ”
Maybe the logic for activating Taproot on the mainnet will be included in a smaller release in the future, but in the meantime Nick said that “Taproot can be activated on something like Signet or Testnet if someone generates a code to do so”, as the original app already exists.

Source: CoinTelegraph

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