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What to expect from Taproot, the biggest upgrade to the bitcoin network in 4 years
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The biggest upgrade in bitcoin's network in four years is slated to happen over the weekend. Here's what you need to know.
Taproot is the first change to bitcoin's protocol since SegWit, the last upgrade which took place in July 2017.
Unlike the highly controversial SegWit, which caused a «civil war» in the bitcoin community, Taproot has received a near-universal consensus, Ninos Mansor, partner at Arrington XRP Capital Partner, a crypto investment firm, told Insider.
The upgrade is aimed primarily at making the cryptocurrency's network more private, secure, and scalable, encompassed by three separate Bitcoin Improvement Proposals or BIPs. These are:
The upgrade is also aimed at equipping the world's largest digital asset by
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