Bitcoin’s widely anticipated Taproot update is likely to be rolled out over the weekend, CryptoBriefing reported.

  • A countdown by NiceHash indicates that the Taproot upgrade will most likely be unveiled at 1:00 UTC on Saturday, November 14. Other countdown websites show that there are just between 339 to 800 blocks to be mined before the update.
  • The upgrade is seen to boost Bitcoin’s scripting capacity, which will compete with those in blockchains such as Ethereum, which are already compatible with smart contracts.
  • The upgrade will also integrate the Merkelized Abstract Syntax Tree (MAST) that will provide even more difficulties in tracing and analyzing transactions. Complex transactions will be indistinguishable from basic ones.
  • The upgrade also features Schnorr signatures which will establish smaller transaction sizes through data aggregations, making it easier for developers to make more Bitcoin applications.

The Taproot upgrade is the most significant since 2017, following the SegWit feature released in 2017. BTC is down 1.21%.