The new version was announced by the developer responsible for maintaining Bitcoin Core, Wladimir J. Van Der Laan, on the Linux Foundation forum.
Among their top goals in 2020 was to increase Bitcoin's privacy from the growing surveillance of corporations and governments.
Mission accomplished - the new version features some exciting privacy and network performance upgrades.
Regarding privacy, the new version of Bitcoin introduces the possibility for Bitcoin nodes to share new Tor addresses with optimized messages. Basically a transaction hopping on and off of the darkweb, and losing anyone who may have been following in the process.
'Highly Efficient' Smart Contracts...
In addition to the privacy upgrades there's a some performance upgrades as well - as the implementation of Taproot will make multisig transactions much smaller on the blockchain, increasing efficiency.
A multi-signature Taproot transaction will look as if it were verified with a single signature, constituting a highly efficient type of smart contract, as it does not require processing too much information.
The end result being faster transactions for everyone.
A New Type Of Wallet Is Coming...
This upgrade also introduces a new type of wallet, called 'descriptors'. With this comes a 'privacy mode' setting that when activated erases the transaction history and records of previous balances (your current balance remains untouched).
Perfect Timing? Crypto Grows In Popularity and Useability At The Same Time...
There's more around the corner, ironically there's been a LOT in the works and the timing appears almost perfect with crypto exploding in popularity, while at the same time major upgrades come to both Bitcoin and Ethereum - which will help keep the momentum!
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Author: Mark Pippen
London News Desk
Global Crypto Press // Breaking Crypto News
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