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Bitcoin network gets code upgrade to improve privacy and security

Over the week, 14th November to be precise, Bitcoin announced a significant upgrade to its network. This upgrade has been in the works for some time, with the Taproot code rolling out to block 709 632 of Bitcoin at 7:15 local time, according to The Block.

The publication also notes that this is the first upgrade of its kind for the cryptocurrency in four years, with it specifically focusing on privacy and security.

To that end, this upgrade makes complicated or large Bitcoin exchanges look like any other transaction on a given crypto platform. This means that anyone spying on an exchange in order to identify and potentially intercept a trade, will not be able to see any noticeable difference.

Another proposed benefit of the upgrade is the ability for the Bitcoin system to be better scaled for handling demand and volume, which should please those living in areas where connectivity and bandwidth can sometimes prove a hurdle.

It remains to be seen how other coins will react to the changes that the Bitcoin network has made with this upgrade, but as we have seen over the past few years, the crypto’s popularity can only benefit from here on out, with less hurdles to exchanges and improved security while making them.

As such, we could see more countries like El Salvador adopt Bitcoin down the line, but not without serious objections considering how divisive digital currencies can make people.

 

 

[Image – Photo by Thought Catalog on Unsplash]

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