Author: ZmnSCPxj 2022-02-21 09:09:09
Published on: 2022-02-21T09:09:09+00:00
In a recent post, ZmnSCPxj has mentioned that if an improvement allows moving some activity off-chain and reduces activity on the blockchain, then the increase in functionality does not always require an increase in block size. The Taproot upgrade is one such example which offers improvements such as Schnorr multisignatures, MAST, `SIGHASH_ANYPREVOUT`, and `OP_CTV`. These features reduce the block size usage for complex contracts, enable offchain updateable multiparty cryptocurrency systems, and allow transactional cut-through without having to publish promised outputs immediately. ZmnSCPxj believes that these upgrades increase the functionality of Bitcoin while also providing opportunities to use the blockchain as judge+jury+executioner instead of a noisy marketplace.
Updated on: 2023-06-15T04:18:49.353872+00:00