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Bitcoin's First Upgrade Since 2017 | Bitcoin Review #12 November 19, 2021
November 2021 - Crypto
Over the weekend, Bitcoin saw the successful rollout and implementation of the Taproot Upgrade, the network's first upgrade since 2017. In order for a Bitcoin to be moved on the blockchain, digital signatures are required to validate ownership of a coin. Currently, the network uses an algorithm called Elliptic Curve Digital Signature Algorithm (ECDSA) to produce digital signatures. The Taproot upgrade introduces another digital signature called the Schorr Digital Signature Scheme. Schorr will mak