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Bitcoin market cap seems to be improving as some feel the bull market is about to start, there are lots of positive energy ongoing more users address staking bitcoin have been increasing daily giving the high signal for the market bull run.
Taproot is the first bitcoin upgrade approved by miners over the world due to being effective November 2021.
This upgrade means a lot to the bitcoin blockchain improving greater transaction privacy and efficiency, Bitcoin blockchain will be able to unlock improve potential to incorporate integration of smart contracts which will increase the blockchain scalability.
The most important thing for taproot is the smart contract integration on the bitcoin blockchain which is considered the primary driver of the ethereum network smart contact are a great tool that allows the development of application and business on the blockchain
Improved transactions privacy using Schnorr signatures, which will enable multi-signature transaction untraceable/unreadable which means users transaction privacy will be improved making transactions more anonymous and secure making users private key to be unexposed on the chain.
Bitcoin upgrade takes place every four years taproot happens to be one of the most anticipated upgrades its goal is to improve on privacy, scalability, and security with a related upgrade called Schnorr signatures
I'm pretty sure this upgrade will be a game-changer for the bitcoin use case and will increase users' adoption what are your thoughts on this will be glad to read your comments.
Information source
https://academy.binance.com/en/articles/what-is-taproot-and-how-it-will-benefit-bitcoin
https://www.cnbc.com/2021/06/12/bitcoin-taproot-upgrade-what-it-means.html