Twitter chief and crypto enthusiast Jack Dorsey is plugging Taproot, Bitcoin’s upcoming upgrade.
In a new tweet to his 5.3 million followers, Dorsey posted the link to the Taproot activation page that shows the progress of the flagship crypto asset’s update.
— jack (@jack) May 2, 2021
Taproot is a soft fork that aims to enhance Bitcoin’s privacy measures, smart contract flexibility, and ability to mask complex transactions on the blockchain. It is the first major upgrade since Segwit (Segregated Witness) in 2017.
Crypto exchange Binance notes that Taproot will help Bitcoin owners “cloak” the methods used to increase the privacy of BTC transactions.
“In fact, Taproot makes it possible to hide the fact that a Bitcoin script ran at all. For example, spending Bitcoin using Taproot could make a transaction in a Lightning Network channel, a peer-to-peer transaction, or a sophisticated smart contract become indistinguishable. Anyone monitoring