Taproot
btc · upgrade
A Bitcoin upgrade that enables more private and efficient spending using Schnorr signatures and script path commitments.
1.definition
Taproot (activated on BTC in Nov 2021) improves privacy and efficiency by introducing key- and script-path spending with Schnorr signatures and Merkleized script trees. Complex spending policies can appear on-chain like simple single-sig spends when using the key path.
2.implications
Benefits include smaller signatures, key aggregation, and fewer visible script details on-chain. Some features require wallet support and new address types (e.g., P2TR) to be fully utilized.
Related terms
Schnorr Signatures
→A digital signature scheme with linear properties that can improve verification, multi-signature design, and privacy.
bch · scaling
SegWit
→A Bitcoin upgrade that moved signatures into witness data, fixing third-party malleability and changing block capacity.
scaling · btc
Bitcoin (BTC)
→The first widely adopted cryptocurrency, using proof of work and an issuance schedule capped near 21 million BTC under current rules.
cryptocurrency · btc
Transaction
→A serialized state transition that a blockchain can validate, relay, and include in a block.
blockchain · technical