As per the activation rules set by Speedy Trial, 90% of blocks mined within one of Bitcoin’s difficulty periods need to signal support for the said update.
The proposed update would combine the Schnorr signature scheme with MAST and leverage a new scripting language called Tapscript.
Using this, highly intensive transfer processing of smaller denominated transactions can now occur.
Complex smart contracts like the ones requiring multiple signatures are indistinguishable from regular Bitcoin transactions, enabling greater privacy.
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice.