BlockStream’s Adam Back: Taproot has the Potential to “Hide Existence of Core Tx Branch if Required”
- According to Back, Taproot is a much more efficient and secure technology when compared to many of today’s other existing privacy protocols.
- At press time, an exact implementation date has not yet been provided by the Blockstream CEO — however, rumors suggest that the deployment process will be initiated either by the end of this year or during the first quarter of 2020.
Back Discusses Schnorr Signatures and Taproot
Over the course of the last 5-6 years, the number of technological developments that have taken place within the global crypto arena has been mind-boggling (to say the least). With that being said, it is important for our readers to understand that in the context of holistic advancement, it is important for every digital currency project — available in the market today — to
“develop and enhance it fundamentals so as to become more valuable to the crypto community as a whole”.
In this regard, it should be pointed out that Blockstream CEO Adam Back recently went on record to talk about Schnorr signatures and the Taproot protocol, and how they were tools that couple potentially change the landscape of the blockchain industry as we move into the future.
On the subject of Schnorr sigs, Back added that they were in their core essence ‘a more compact version of today’s existing multi-signature technology’. He also pointed out that one of the major advantages of using Schnorr is that it helps in minimizing issues related to ‘fingerprinting’.
Similarly, on the subject of Taproot, the Blockstream topman was quoted as saying:
“The typical pattern 99% of the time, only one branch is used and occasionally something will go wrong and you will have to use the other branch, so for the cases where the branch is never disclosed, Taproot can hide the existence of the branch so you’re only disclose it if you need to use it.”
Bitcoin Protocol Could Potentially Improve with Taproot
In Back’s opinion, Taproot helps provide users in acquiring extra privacy (as well as more fungibility) for themselves— thereby allowing them to minimize the possibility of being faced with hacking-related issues later down the line.
He also went on to claim that the protocol can somewhat
“improve the scaling aspect of any crypto project that it is directly associated with”.