Bitcoin has received its first update in four years

According to CNBC, the developers have added a new type of electronic signatures for multilateral transactions, which will eliminate the differences in the level of confidentiality between simple and complex transactions.

On Sunday, the first bitcoin update called Taproot was released in four years, changes in the code are designed to enhance the anonymity of cryptocurrency owners and improve the “efficiency of transactions.” CNBC reported this.

According to him, the developers have added a new type of electronic signatures for multilateral transactions, it will eliminate the differences in the level of confidentiality between simple and complex transactions in which several signatures are indicated, the TV channel explains.

Another important part of the changes concerns “smart contracts” (automatically executed transactions). As a result of the update, they “became cheaper and smaller” in terms of their information volume. In the future, “smart contracts” are able to save holders of cryptocurrencies from intermediaries when paying for various services or goods, the TV channel points out.

In June, the bitcoin community agreed to delay the release of the update. The purpose of the postponement is to allocate additional time for testing and minimize the risk of an error in the code or other difficulties during the implementation of the update. The channel notes that the Taproot release is an important event for bitcoin owners; it was supported by the majority of community representatives. The content of the changes did not cause significant controversy in their environment, unlike the previous major update released in 2017.

According to the Coindesk portal, on Monday the cost of bitcoin exceeded $65 thousand.

If you have found a spelling error, please, notify us by selecting that text and pressing Ctrl+Enter.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Graduated from Stanford University. Previously, he worked in various free news media. Currently, it is a columnist of the economy section in the Free News editors.
Function: Reporter
E-mail: yuliyamaltseva.freenews@gmail.com
Yuliya Maltseva

Spelling error report

The following text will be sent to our editors: