Bitcoin Core 0.21.0 is now live with the update on January 15th.
Building a secure and private foundation for Bitcoin
The latest iteration of Bitcoin’s implementation brings a few changes that form the basis of a more secure, private and robust network.
Following the release of 0.21.0, full node operators and miners are now observing that this version supports Tor’s latest address format and can manually set charges as Satoshi. This eliminates the need to use a fee estimator.
They are free to test the Taproot code on Bitcoin’s network, although several changes were made to the source code two months after it was consolidated.
Taproot code can be used for testing
Understandably, the influx of new users, mostly investors, demanding a more secure and private network requires changes to the core.
One of the most anticipated changes to the bitcoin core is Taproot.
Set for activation via soft fork, this will change the way Bitcoin’s scripts work primarily for privacy purposes.
Benefits of Taproot
Without taproot, it will be easier to track transactions with complex transactions.
However, these private transactions will be hidden, meaning it will be more homogeneous with other transactions, making it more difficult for third parties to track changes.
In addition, Taproot will introduce other changes that make Bitcoin more scalable and secure without competitive layer-2 options. For example, more transactions will be packaged within a block, helping to improve throughput at the base tier.
Taproot is prepared for year-round application.
It will be the first major Bitcoin upgrade in more than three years following the controversial SegWit 2X hard fork created by Bitcoin Cash.
Combined with Bitcoin’s support of Tor V3 addresses, developers create a solid foundation that will ultimately make Bitcoin the most secure and private.
Increasingly, power is shifting from people. However, the availability of a better alternative led by the masses represents freedom from third-party control.