4
4
0
"Bitcoin’s makeover has to do with digital signatures, which you can think of as the fingerprint an individual leaves on every transaction they make.
Right now, the cryptocurrency uses something called the “Elliptic Curve Digital Signature Algorithm,” which is created from the private key which controls a bitcoin wallet and ensures that bitcoin can only be spent by the rightful owner. Taproot will switch over to something known as Schnorr signatures, which essentially makes multi-signature transactions unreadable..."
Right now, the cryptocurrency uses something called the “Elliptic Curve Digital Signature Algorithm,” which is created from the private key which controls a bitcoin wallet and ensures that bitcoin can only be spent by the rightful owner. Taproot will switch over to something known as Schnorr signatures, which essentially makes multi-signature transactions unreadable..."
Bitcoin just got its first makeover in four years
Posted from cnbc.com
Bitcoin
Technology
Money
Cybersecurity
Posted >1 y ago
Responses: 1
0
0
0
The shift from Elliptic Curve Digital Signatures to Schnorr signatures with Taproot sounds like a significant upgrade. Schnorr signatures improve privacy by making multi-signature transactions less readable and enhancing efficiency and scalability. It is exciting to see how these changes could boost Bitcoin’s security and functionality.
(0)
(0)
Read This Next
Continue with Facebook 
Continue with Google