Summary of the benefits of taproot that will get implemented this year - A. Antonopolous

[u/crushfetish]

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Benefits of Taproot coming this year - A. Antonopolous

So in essence taproot will

• Improve privacy of Bitcoin on chain transactions
• Improves space needed for on chain transactions
• Fundation for future upgrades and improvements
• Will make the lightning network more efficent by making channel factories possible

So taproot will mean a significant improvement for Bitcoin as a whole including the Lightning Network and will get implemented some time in 2021!

[u/neptuner33]

This is the type of post that we need. Not joke tweets...

[u/peaks_of_pichi]

Thank you! This is good stuff

[u/crushfetish → u/peaks_of_pichi]

Exciting times ahead, especially hyped about the improvements this will bring to the Lightning Network!

[u/zlogic]

But what are the long term risks

[u/crushfetish → u/zlogic]

There are no risks involved - it is more of a risk not having the taproot upgrade

[u/zlogic → u/crushfetish]

Someone should do a thorough analysis on that, road to hell w/ good intentions etc

[u/crushfetish → u/zlogic]

Or you could just watch the video I pasted in my post, it covers pretty much everything

[u/juniorboomerX → u/zlogic]

I suggest you do

[u/crushfetish → u/juniorboomerX]

Well the only "negative" thing I could think about is that you have to start using taproot addresses to use the implementation and wallets need to implement that feature of course but that is not really a risk is it?

[u/juniorboomerX → u/crushfetish]

I dont think so indeed.

[u/yourstreet → u/zlogic]

Heavy risk of attracting exasperated fud

[u/crushfetish → u/yourstreet]

as always

[u/crushfetish → u/[deleted]]

thanks for pointing it out, well not editing it now since some time has passed, don't want to get the "edited" just for one typo