BMR for 13th June 2021 - TAPROOT
The big news this morning for Bitcoin is TAPROOT. What is it? I did not even know anything was on the go. lol. I really got to find a way to get out of this rock I live under. Anyway I will give a couple quotes from this article Bitcoin just got its first makeover in four years, which will help it compete with Ethereum. And that is a very eye catching title I have to say.
So here are the basics:
"due to take effect in November. When it does, it will mean greater transaction privacy and efficiency – and crucially, it will unlock the potential for smart contracts, a key feature of its blockchain technology which eliminates middlemen from even the most complex transactions."
"Taproot makes smart contracts cheaper and smaller, in terms of the space they take up on the blockchain. Killeen says that this enhanced functionality and efficiency presents “mind blowing potential.” "
Pretty exciting stuff I have to say. Read the article, do some research, read some more.
Market update:
Hive: $0.3417 up 6.89%
Bitcoin: $35,835.39 up 2.79%
CUB: $0.5285 up 1.96%
Chia: $394.00 down 4.28%
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Have a great day all.
Bradley
This Taproot upgrade has flown under the radar of many people, but it's SO important. My guess is they didn't want to advertise the privacy feature too much thinking of how this will be taken and twisted in the mainstream media.
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No doubt about that.
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