With the fourth quarter half over, the leading cryptocurrency has not disappointed so far, having risen 47% since the start of October.
The long-anticipated improvement happened at block number 709632, and it is the first major upgrade to the Bitcoin network in four years.
In addition to making Bitcoin transactions more private, Taproot is also designed to make the blockchain more scalable and secure.
Taproot uses what are known as Schnorr signatures that will make multi-sig transactions look similar to peer-to-peer transactions, ultimately enhancing the anonymity of the wallet address.
In addition, since less data will ultimately be involved in transactions thanks to the creation of a consolidated digital signature, Bitcoin transactions can be verified more speedily.
One the heels of the taproot upgrade, the bitcoin price is trading at the $64,600 level with a market cap of $1.2 trillion.