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Taproot activates, K-pop enters the Metaverse and Staples Center becomes Crypto.com Arena: Hodler’s Digest, Nov. 7-13

Published 11/19/2021, 03:33 PM
Updated 11/20/2021, 06:40 PM
Taproot activates, K-pop enters the Metaverse and Staples Center becomes Crypto.com Arena: Hodler’s Digest, Nov. 7-13

The Bitcoin network welcomes Taproot soft fork upgrade

The Bitcoin (BTC) network underwent its first major upgrade since 2017 after the Taproot soft fork went live following a 90% lock-in consensus from miners and mining pools between blocks 709,488 and 709,632.

Taproot will apparently improve the scripting capabilities and privacy of the Bitcoin network by enabling a concept known as Merkelized Abstract Syntax Tree, which can enhance the efficiency of smart contracts without revealing private data behind the contract when making transactions.

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