An Important Day for BTC: Taproot Update and Block With Record Transactions
Two events that could be significant in Bitcoin history took place today: A block with a record number of transactions was mined and the #Taproot update was locked.
#Chinese #journalist Colin Wu, who has shared about blockchain and cryptocurrencies, stated that another record was broken in the history of #Bitcoin with a post he made today.
🚨Record Number of BTC Transactions🚨
Colin Wu announced that the #Bitcoin (BTC) block number 687249, which was released on June 12, today, contains a record number of BTC transactions. According to the statements made, there are 4,075 BTC transactions in this block.
At this point , it should be noted that the average number of Bitcoin transactions per block is approximately 1,609. Therefore, in block 687249, there are approximately 4 times more transactions than the average mentioned.
On the other hand, Wu believes this spike is related to the Chinese government 's restrictions on Bitcoin miners this week and the massive drop in the Bitcoin hash rate, which shows that Bitcoin block production is slowing down.
Wu shared on the subject, “According to #OKLINK, Bitcoin block 687249 with 4,075 transactions appeared today. It is rare in history for a block to contain such a high number of transactions. This is because China is restricting mining and the drop in hash rate results in slower block production.” used his words.
🚨Bitcoin Taproot Update🚨
The long-awaited Taproot update , the product of several years of development, is now locked. The Taproot update was in a voting phase, and based on information obtained today, voting was completed today. In the statements made, it is stated that the update will be activated in November.
This upgrade allows, in very simple terms, to generate some kind of master key to hash a set of signatures into a single signature. Taproot can be defined as a Bitcoin soft fork integrating #Schnorr #cryptographic signatures, an alternative signature method to #ECDSA currently implemented in the network .