• Taproot signature upgrade and Schnorr signature updates are the next steps in the network’s evolution.
• It is expected to take place at noon UTC on Block Height 709632.
• The upgrade will swiftly address Bitcoin’s scaling issues and its downsides.

Amid the scaling difficulties that have long bedeviled the Bitcoin network since it gained mainstream traction, the BTC network is on the move to activate its long-anticipated upgrade called “Taproot”. As said earlier, the Taproot upgrade forms part of Bitcoin’s most valued implementations that seek to address its scaling issues and the challenges it faced in 2021.

According to a report, the major upgrade is scheduled for Nov 15th, 2021 at midnight UTC. The Taproot upgrade is not the only one. Schnorr Signature Update, a separate proposal, will also be performed at block height 709632.

Bitcoin’s programmability makes it difficult to develop on Decentralized Finance (DeFi), which allows you to gain market exposure. Bitcoin can be used as collateral in a wrapper.

Taproot Upgrade aims to address these problems by using its programming language. Although it isn’t as powerful compared to that of programming languages on the Ethereum Virtual Machine (EVM) but, it is far better than what is currently on the Bitcoin network.

Bitcoin Core, an upcoming upgrade that will revolutionize Bitcoin’s network has been officially declared obsolete by Matt Whitlock (Bitcoin developer).

I’m surprised nobody mentioned the obvious implication here: Bitcoin Core is now officially out of beta! … Advancing the version number to something greater than 1.0 sends the signal that the software is now ready for prime time.

This time is the best innovation moment in Bitcoin’s history. The community is excitedly awaiting the upgrade. Many people think that the upgrade will have a positive impact on Bitcoin prices as they are still waiting for it to roll out.

Continue reading on CoinQuora