SegWit allows space for Bitcoin data, it contributes to the transaction validation speed. Plus, SegWit paved ways for Bitcoin to create smart contracts and upgrade to the Taproot version. However, is Segwit secure enough? SegWit improves Bitcoin’s blockchain security. One of the effects is to prevent malleability in the transaction. Malleability is a chance or ability to change information in the blockchain. On the other hand, the cryptocurrency community is still doubtful about SegWit.
Somehow, SegWit has given a significant benefit for Bitcoin, blockchain, miners and nodes accepting it. SegWit allows Taproot implementation. Taproot is an upgraded form to Bitcoin built upon SegWit to secure. With Taproot validation becomes even faster. There is also a question whether or not SegWit is a soft fork. The answer is the Bitcoin blockchain of SegWit is a soft fork. Soft fork means that there are changes but it will not create a new blockchain. It is different from a hard fork. When there is change a new block will appear from the hard fork.
In detail, the term Taproot is the most recent Bitcoin implementation on network upgrade. This upgrade aims at streamlining the process of transaction so that it is faster and less costly. Actually, before the implementation of Taproot, Bitcoin verification for transactions was quite slow. This is because the digital signature validation is against a public key. The amount of time multiplied as required for the multi signature transaction needing inputs and signatures. Taproot implementation is through aggregation. it is like multiple signatures could be placed together and validated. Many inputs in Bitcoin’s network, since Taproot could turn into a single one with an upgrade.
