The Taproot / Schnorr solution has been released as the Bitcoin Improvement Protocol (BIP)-a symbol of the long-awaited technological advancement.
In January 2018, Bitcoin Core developer Greg Maxwell first proposed Taproot. In May this year, another Bitcoin Core developer Pieter Wuille officially set it as a soft fork bundled with Schnorr.
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This solution can make all transactions in the eyes of ordinary users indifferent-whether it is simple payment between two parties, the opening or closing of the Lightning Network channel, or a complex smart contract-it is expected to bring to the Bitcoin protocol Urgently needed privacy protection features.
The program has recently completed developer feedback. On January 16, Wuille issued a Pull Request for the Taproot / Schnorr solution, describing the survey rules and basic wallet operations for the proposal.
On Thursday, Wuille released an update announcing that the soft fork was released in the form of BIP 340, 341, and 342.
He emphasized that the BIP itself does not mean final approval, but only indicates that the author has now reached a basic agreement with the community on the content of the proposal.
"Please note that the assignment of BIP numbers is not an approval of any kind; it is only part of the normal process (which includes some public discussions)."
"In this case, I believe we (the author) will wait for the proposal and the content to be mature before asking for a number. Unless significant issues are found during the review (of course the review is very welcome), I don't think we intend to use the content Make any changes. "
The next step is protocol deployment and network activation.
Now that the BIP number is available, as he said before, Wuille will soon issue a Pull Request for the deployment of this proposal, which may bring about a new round of review.
"If everything goes well and Taproot is what the ecosystem is willing to adopt, then it will be merged and start discussing how to activate it on the network. After that, we will release a version with Taproot activation, when the activation conditions When satisfied, we will go live. "
Wuille made it clear that the exact time of the soft fork execution is now in the hands of the ecosystem (that is, the community).
"The next steps in this process depend more on the entire ecosystem than on me or other contributors."