A major upgrade to bitcoin is happening soon—here’s what investors should know

Taproot, a highly anticipated upgrade to bitcoin, is expected to go into effect in the coming days at block 709,632 — some sources say it’ll go live as soon as Saturday.

This is bitcoin’s first major upgrade since 2017, and it will impact the blockchain in a number of ways.

Taproot will introduce what’s called Schnorr signatures, which will help bitcoin transactions become more private, efficient and less expensive. Most importantly, the upgrade will better enable bitcoin to execute smart contracts on the blockchain.

Though some experts believe that Taproot will have a minimal impact on bitcoin’s price, it’s important that investors understand the effects of the upgrade.

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