What Investors Need To Know About Bitcoin’s Taproot

Taproot is the next upgrade of bitcoin, and even bitcoin’s first major upgrade since 2017, and it will impact the blockchain in several aspects. It is expected to go into effect in the coming days at block 709,632. It will go live as soon as Saturday.

Taproot will introduce investors to Schnorr signatures, which will help bitcoin transactions become more private, efficient, less expensive and most importantly, the upgrade will better enable bitcoin to execute smart contracts on the blockchain.

Regardless this upgrade’s impact on bitcoin’s price, it is important that investors understand the effects of the upgrade.

After all, it is impossible to predict the future price of an asset, and bitcoin is the blockchain powering the largest cryptocurrency by market value, moreover, the Taproot upgrade is a collection of three separate upgrade proposals.