Well, Taproot is the first Bitcoin protocol upgrade to go live since Segregated Witness activated in 2017. First proposed by former Blockstream CTO Gregory Maxwell and developed by Bitcoin Core contributors including Pieter Wuille, Anthony Towns, Johnson Lau, Jonas Nick, Andrew Poelstra, Tim Ruffing, Rusty Russell and Maxwell himself, Taproot will make Bitcoin’s smart contract features more compact, potentially more private, and in some cases a bit more flexible. As a soft fork, the upgrade is backwards compatible as long as a majority of miners enforce the new rules.

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