According to Coindesk's May 7 report, Bitcoin's main developer, Pieter Wuille, today announced two Bitcoin Improvement Proposals (BIPs) that may be the basis for Bitcoin upgrades.
(Source: thebluediamondgallery )
Pieter Wuille posted the two proposals on the Bitcoin developer email list . Two bitcoin improvement proposals describe a code change Taproot designed to increase bitcoin privacy. It is expected that Taproot will be bundled with the Schnorr signature and used after the soft fork upgrade. Bitcoin developers have been researching this proposal for some time and believe that this soft fork will pave the way for improved bitcoin privacy and scalability.
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Bitcoin developers have been thinking about how to schedule this particular upgrade. Over the years, developers have made a number of changes to Bitcoin, and since these code changes are interrelated, it makes sense to bundle them together. These proposals include Merkelized Abstract Syntax Trees (MAST), adding, improved bitcoin smart contracts, Schnorr signatures (adding another signature to bitcoin transactions), and Taproot (for bits) Currency transactions add better privacy).
The two Taproot proposals provided on Github are another sign that the above proposal will eventually begin to integrate. At this time, it's important to make the technical details of the Taproot proposal public, and more developers in the community will be able to view the details of these proposals and decide whether they agree to them. If the community agrees and believes that the changes are correct, then these proposed changes that have been combined over several years will eventually be put into use.
It's worth noting that some people believe that the controversy over integrating the Bitcoin improvement proposal will be less controversial than the previous soft bit fork that activated Bitcoin's SegWit. The developers of Bitcoin Cash who are on a different path from Bitcoin actually like Schnorr signatures. They just implemented a similar technology a week ago.
Wuille's first bitcoin improvement proposal describes a "new isolated witness version 1 output type that uses rules based on Taproot, Schnorr signatures, and Merkle braches."
Wuille wrote in the Bitcoin Improvement Proposal:
The Bitcoin Improvement Proposal describes the timing and method of Bitcoin's next upgrade, as well as the popular Taproot and Schnorr signature upgrades. In addition, the upgrade will "not add any new strong security assumptions, but also "do not incorporate any of the stand-alone features that can be easily implemented."
The second bitcoin improvement proposal describes "the semantics of the initial scripting system under bip-taproot".
Wuille announced in his email that the proposed BIPs include Schnorr, MAST and Taproot, while another highly anticipated feature may not appear in the latest upgrades:
Although we have a lot of other ideas, we don't implement all the ideas together. This includes ideas that can be implemented separately without losing effectiveness. One of the ideas is to integrate SIGHASH_NOINPUT, which is an independent proposal we are working on.