Saturday, 15 August 2020

Current status of Schnorr + Taproot? Just learned about them and am pumped at these improvements!


Hey guys, I have been listening to some podcasts so I can wrap my head around Schnorr and Taproot, and was extremely impressed at the improvements they make, WOW, I didn't realize how HUGE an improvement this is going to be, it's probably just as big an upgrade as Segwit. That it improves not just privacy, but also efficiency, which should help transaction fees once it catches on (I hear that multisig is used quite a lot). Also it's awesome to know it should help to mask Coinjoins (if I am understanding correctly), that should also make far less cases of exchanges randomly flagging and freezing some poor innocent guy's money + increased use of Coinjoin. There was also some nice improvement to Lightning, but that part seemed to go over my head. Bitcoin Audible podcast #226 really explained things well, as well as a few others like Pomp's podcast.Anyway, what's not so clear to me is the current status of these improvements. I read that the BIP has been altered several times, is that where we are at currently, the exact contents of the BIP being finalized? I heard there was also some debate about the best way to vote on such a thing, has that been decided yet? I did a search but didn't come up with much.It seems to me that unlike some other more contested proposals, this one is pretty universally praised, I have scarcely seen even a forum post arguing against it.Instead of worrying about price so much, I think we would be better served to have some kind of sticky post along with regular status updates on the progress of this.Anyway, any info is appreciated, thanks guys. via /r/Bitcoin https://bit.ly/3h4Km2I

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