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Created by@Hacker Dōjo
Created on2023/09/09
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Hacker Dōjo · 2023/09/09

Taproot Upgrade and BRC-20 Analysis #722

#Taproot is a significant #Bitcoin upgrade that improves data storage on the blockchain. It replaces the current ECDSA algorithm with Schnorr, allowing many signatures to be batched into one signature, making the process more efficient. After Taproot's upgrade, #BRC-20 takes advantage of the "goodwill bug" to interpret on-chain data based on off-chain clients. This study aims to examine the Taproot upgrade details, as well as the advantages and disadvantages brought to the Bitcoin ecosystem before and after the upgrade, and to analyze the BRC-20 from a technical perspective. Feel free to participate in the discussion.