Taproot – Ƀitsell X

Internet Computer Protocol Implements Threshold-Schnorr Signatures, Enhancing Bitcoin Integration

August 13, 2024

The Internet Computer Protocol (ICP) has integrated threshold-Schnorr signatures and onchain Bitcoin block headers as part of its Deuterium milestone. This development aims to expand the utility of Bitcoin within the decentralized economy, allowing for new applications previously hindered by Bitcoin’s lack of native smart contract support. ICP Introduces Threshold-Schnorr Signatures to Boost Bitcoin Compatibility…
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Lightning Labs CTO Conducts First Mainnet Multi-Hop Asset Payment via Taproot Asset Channels

May 11, 2024

Olaoluwa Osuntokun, co-founder and CTO of Lightning Labs, recently executed the first successful mainnet multi-hop asset payment using Taproot Asset channels, marking a new development in asset transfer capabilities over the Lightning Network. Asset Transfer Achieved on Lightning Network Using Taproot Channels The transaction, conducted by Osuntokun, involved a multi-hop payment using a digital asset…
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Bitcoiner drops BitVM paper — bringing Ethereum-like contracts to Bitcoin

October 10, 2023

The author of the white paper, Robin Linus, based BitVM’s architecture on Ethereum’s optimistic rollups with fraud proofs and recent Merkle tree developments. A Bitcoin developer has proposed a new way to bring more expressive off-chain smart contracts to Bitcoin (BTC) without needing a soft fork. Announced in an Oct.9 white paper titled “BitVM: Compute Anything…
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Lightning Labs launches rebranded ‘Taro’ amid Bitcoin’s BRC-20 bottleneck

May 17, 2023

Lightning Labs have unveiled a new solution to the clunky process for minting new assets on the Bitcoin network. Bitcoin (BTC) users have been given a possibly more efficient way to mint new assets on the blockchain aft an updated edition of the recently-rebranded Taproot Assets Protocol was released by Lightning Labs. In a May…
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Litecoin Network Adopts Ordinal Inscriptions, Following Bitcoin’s Lead

February 22, 2023

Following a growing trend of Ordinal inscriptions on the Bitcoin blockchain, the technology has been ported to the Litecoin network, and the number of onchain Litecoin inscriptions has surpassed 13,000. Software developer Anthony Guerrera made Ordinal inscriptions on the Litecoin network possible by receiving 22 Litecoin to port the technology to the proof-of-work (PoW) blockchain.…
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Original Bitcoin Wizard Artist Raises Nearly $150,000 in BTC via Lightning, Despite Criticism From Bitcoin Maximalists

February 21, 2023

On Monday, crypto proponent Udi Wertheimer shared a story on Twitter explaining how he and the Taproot Wizards helped an artist who created the original 2013 bitcoin wizard meme raise nearly $150,000 in bitcoin. While the minting and sale were successful, Wertheimer explained that bitcoin maximalists and the r/bitcoin moderator Bashco disliked it. Artist Who…
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Bitcoin Ordinal Inscriptions Surge Past 100,000 Mark, Spurring Development of Supporting Infrastructure

February 15, 2023

According to the latest statistics, more than 100,000 ordinal inscriptions have been added to the Bitcoin blockchain since the start of the trend. Amid the growing popularity, people have launched supporting marketplaces and tools that allow individuals to inscribe without a full node. Additionally, a decentralized Ordinal exchange is reportedly in the works. 100,000 Inscriptions…
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Debate Intensifies Over Significance and Implications of Ordinal Inscriptions on Bitcoin Blockchain

February 4, 2023

During the past two weeks, members of the cryptocurrency community have discussed the non-fungible token (NFT) concept known as Ordinals. Since the 3.96 MB block (#774,628) was mined, there has been a significant increase in Ordinal inscriptions on the Bitcoin blockchain. Ordinal Inscriptions on Bitcoin Blockchain Spark Debate Among Crypto Community The controversial NFT concept…
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Bitcoin Records Largest Mined Block to Date, 4 MB Block Containing NFT Causes Unease Among Small-Block Supporters

February 2, 2023

Amid the controversy surrounding the Ordinals project and the debate over what types of data should be stored on the Bitcoin blockchain, the network mined its largest block, nearly 4 MB in size, containing just 63 transactions. One of the transactions was a 3.94 MB Ordinal inscription featuring an image of a wizard, and the…
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Meet Ordinals, the New Bitcoin NFT Engine, and the Drama Surrounding Them

January 31, 2023

Ordinals, a new way of using and getting content using Bitcoin, are enabling creators to harness the utility of NFTs (non-fungible tokens) directly from the blockchain, essentially creating native Bitcoin NFTs. This has stirred the pot in some circles, which are now discussing if this is the way in which Bitcoin’s blockchain should be used,…
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