Cryptocurrency leader Bitcoin has just received its first major upgrade in 4 years. The Bitcoin network has rolled out a massive code update that has been in the works for a long time, which brings several improvements to the table.
According to a report from The Block, this new code update should improve both privacy and security for complicated transactions by making them look like any other exchange on the internet. Potential crypto thieves should now have a hard time detecting an unusual crypto transfer.
The code update known as the Taproot update will also change the Bitcoin network’s scaling by abandoning the current system of cryptocurrency. This should make it easier to handle increasing demand.
As mentioned earlier, this is the first major update to Bitcoin since 2017 and a much-needed one. The king of cryptocurrency is on the rise once again with increasing demand all over the world. While it does have some objections related to digital money, its users now include major companies like AMC and even the country of El Salvador.
The Taproot update should not only aid new crypto users but older crypto trading veterans as well.
You can read up on technical details of this code update through The Block’s articles.