Taproot Has Been Merged Into Bitcoin Core: Here's What That Means

Bitcoin’s long-awaited Taproot update is one step closer to fruition.

AccessTimeIconOct 15, 2020 at 2:48 p.m. UTC
Updated Sep 14, 2021 at 10:10 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Bitcoin’s long-awaited Taproot update is one step closer to fruition. 

  • The codebase for the smart-contract upgrade to Bitcoin’s blockchain has been merged into the Bitcoin Core library. This comes about a month after Pieter Wuille created a pull request to merge the feature.
  • Now that Taproot’s code has been included in Bitcoin Core’s coding library, the upgrade is only waiting to be deployed at this point. For the new upgrade to activate network-wide, node operators must adopt Taproot's new ruleset in place of the older code's consensus rules.
  • This could take weeks or months, depending on how the review process unfolds for the two leading implementation proposals.
  • One of these deployment triggers, BIP 8, would create a “signaling” period to allow full and mining nodes to upgrade; after this period is over, an automatic activation would take place for those who haven’t upgraded.
  • The other method, Matt Corallo's modern soft-fork activation, is somewhat similar in that it includes a year-long signaling period but it also includes a six-month review process after activation (as well as the added contingency of a two-year activation method not unlike BIP 8 if the first method fails).
  • In the works since Gregory Maxwell proposed Taproot in the first month of 2018, the upgrade is perhaps the most anticipated soft-fork in Bitcoin since Segwit was activated in 2016.
  • Taproot would implement Schnorr signatures into Bitcoin, a cryptographic technique for signing transactions that would enable Bitcoin with more flexible (and private) smart contracts.
  • Many developers anticipate Taproot will be much less controversial than Segwit and thus will activate faster, though an exact timeline for deployment is not solidified.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.