Taproot proposal - page 3. | Bitcointalksearch.org

cygan

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The Taproot upgrade that goes live through a hard fork on 16 November 2021 will bring in 3 new Bitcoin Improvement Proposals (BIPs), all merging together to become the latest version of Bitcoin. Prominent Bitcoin developer Greg Maxwell proposed BIP-340, 341 and 342 back in January 2020. By the end of 2020, these 3 proposals had 74% adoption by miners. By mid-2021, the approval rate was above 90%, meaning that these 3 proposals are finally ready to be rolled out.

https://cryptoslate.com/cryptomeister-explains-why-taproot-is-so-important/

btw, not even a month and then it is so far Grin

cygan

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a very informative article that shows all the advantages of taproot

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Key Points

After Taproot, Bitcoin will be able to compete with privacy coins in terms of functionality.
Transaction fees will drop dramatically due to better data storage.
Decentralized finance services could be feasible on Bitcoin's network due to lower fees.

https://www.fool.com/investing/2021/10/01/heres-why-you-should-be-excited-about-bitcoins-tap/

Dabs

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Quote from: ABCbits on September 25, 2021, 04:22:39 AM

As for wallet support, AFAIK only Electrum and Bitcoin Core have support for Taproot.

Can't wait for what's going to happen with Electrum. It would seem to make sense it will support multi-sig with taproot.

ABCbits

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Quote from: Dabs on September 24, 2021, 09:04:54 AM

quikie question: looks like taproot address will still look like bech32, just called bech32m and beginning with bc1?

Aside from following bech32m (which already mentioned above), witness version of Taproot is 1 (while SegWit is 0), so the prefix for taproot will be bc1p, not bc1q.

Quote from: Dabs on September 24, 2021, 09:04:54 AM

So just a matter of time after November 2021 we will start seeing wallets and taproot addresses and multi-sig and all that?

As for wallet support, AFAIK only Electrum and Bitcoin Core have support for Taproot.

garlonicon

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taproot address will still look like bech32, just called bech32m and beginning with bc1?

Yes, the only different thing is checksum, so the last six characters will be different. Some example:

Code:

decodescript 512079be667ef9dcbbac55a06295ce870b07029bfcdb2dce28d959f2815b16f81798
tb1p0xlxvlhemja6c4dqv22uapctqupfhlxm9h8z3k2e72q4k9hcz7vqqzj3dz bech32 (testnet)
tb1p0xlxvlhemja6c4dqv22uapctqupfhlxm9h8z3k2e72q4k9hcz7vq47zagq bech32m (testnet)

Quote

So just a matter of time after November 2021 we will start seeing wallets and taproot addresses and multi-sig and all that?

They exist even now on mainnet, but they are spendable by any miner. They also exist on testnet and signet, in test networks they are only spendable if you can produce a valid signature.

Edit: More than that: there are higher Segwit versions on mainnet, like v2 or v3, I remember I saw quite short "bc1z" address somewhere. However, before softfork activation that outputs can be taken by any solo miner or mining pool.

Edit2: I found it, see transaction c83bfc9946c88f78cf4708b991a3c1f54cbb1845ba5494fdd15478b202878f1e.

Dabs

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quikie question: looks like taproot address will still look like bech32, just called bech32m and beginning with bc1? So just a matter of time after November 2021 we will start seeing wallets and taproot addresses and multi-sig and all that?

cygan

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another great tweet from the Kraken exchange

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Nearly four years after #Taproot was proposed, activation is around the corner.

What changes could we see in Bitcoin & the broader crypto ecosystem?

Better protected data
More scalable & efficient network
Boost #LightningNetwork & Layer 2

https://twitter.com/krakenfx/status/1438850354100285444
https://kraken.docsend.com/view/9e9y7may8526z934

cygan

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please update all your nodes to the 22.0 version 👉 https://bitcoincore.org/bin/bitcoin-core-22.0/ Cool

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Bitcoin Core 22.0 is now added to the taproot count.

Roughly 0.4% of nodes are 22.0.

https://twitter.com/taproot_signal/status/1438455009738383362

cygan

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i can no longer wait for the time when the upgrade will be implemented

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In Kraken Intelligence’s latest report, “Taproot Primer: An Upgrade For The Ages,” our team breaks down each of the three Bitcoin Improvement Proposals (BIPs) included in the Taproot upgrade and explains the transaction efficiency and user privacy benefits the upgrade will bring to the Bitcoin protocol.

https://blog.kraken.com/post/10939/taproot-primer-an-upgrade-for-the-ages/

Daltonik

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The developers of Bitcoin Core itself have announced the release of the 22.0 version of the client, which is the first major release supporting the upcoming update of the Taproot protocol.

Quote from: https://twitter.com/bitcoincoreorg/status/1437536856288251906

j2002ba2

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Quote from: BlockchainYM on August 28, 2021, 09:19:16 AM

Where can I see this op_success126? can you give me what opcodes have been replaced by op_success? I didn't find too much useful information, can you tell me?

https://github.com/bitcoin/bitcoin/blob/master/src/script/interpreter.cpp#L1824
https://github.com/bitcoin/bitcoin/blob/master/src/script/script.cpp#L335

BlockchainYM

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Quote from: j2002ba2 on August 24, 2021, 05:33:01 AM

Quote from: BlockchainYM on August 23, 2021, 08:04:23 PM

I know, but can you tell me the specific meaning of tapscript (Many previously disabled opcodes are redefined to be OP_SUCCESS opcodes that unconditionally render the entire script valid to simplify soft fork upgrades.)? I don’t understand what OP_SUCCESS specifically redefines? How is it used?

In tapscript when the interpreter encounters one of the OP_SUCCESSx opcodes, it instantly succeeds. In the future this might change, and some opcodes might enforce restrictions - soft fork. But the future is not here yet, so nobody knows what and how exactly would happen. So there was OP_CAT at the very beginning, then it was disabled, and now inside tapscript there's OP_SUCCESS126 instead, which might change (in future tapscript version) to something else (instead of instant success).

So there was OP_CAT at the very beginning, then it was disabled, and now inside tapscript there's OP_SUCCESS126 instead, which might change (in future tapscript version) to something else (instead of instant success).

Where can I see this op_success126? can you give me what opcodes have been replaced by op_success? I didn't find too much useful information, can you tell me?

BlockchainYM

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Quote from: j2002ba2 on August 24, 2021, 05:33:01 AM

Quote from: BlockchainYM on August 23, 2021, 08:04:23 PM

I know, but can you tell me the specific meaning of tapscript (Many previously disabled opcodes are redefined to be OP_SUCCESS opcodes that unconditionally render the entire script valid to simplify soft fork upgrades.)? I don’t understand what OP_SUCCESS specifically redefines? How is it used?

In tapscript when the interpreter encounters one of the OP_SUCCESSx opcodes, it instantly succeeds. In the future this might change, and some opcodes might enforce restrictions - soft fork. But the future is not here yet, so nobody knows what and how exactly would happen. So there was OP_CAT at the very beginning, then it was disabled, and now inside tapscript there's OP_SUCCESS126 instead, which might change (in future tapscript version) to something else (instead of instant success).

Here is the list of the codes redefined as OP_SUCCESSx, the red ones were disabled in usual script:
OP_RESERVED = 0x50, OP_VER = 0x62, OP_CAT = 0x7e, OP_SUBSTR = 0x7f, OP_LEFT = 0x80, OP_RIGHT = 0x81, OP_SIZE = 0x82, OP_INVERT = 0x83, OP_AND = 0x84, OP_OR = 0x85, OP_XOR = 0x86, OP_RESERVED1 = 0x89, OP_RESERVED2 = 0x8a, OP_2MUL = 0x8d, OP_2DIV = 0x8e, OP_MUL = 0x95, OP_DIV = 0x96, OP_MOD = 0x97, OP_LSHIFT = 0x98, OP_RSHIFT = 0x99,
and everything between
OP_CHECKSIGADD = 0xba,and
OP_INVALIDOPCODE = 0xff,

Thank you. Can you tell me a demonstration website with a full transaction script?

j2002ba2

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Quote from: BlockchainYM on August 23, 2021, 08:04:23 PM

I know, but can you tell me the specific meaning of tapscript (Many previously disabled opcodes are redefined to be OP_SUCCESS opcodes that unconditionally render the entire script valid to simplify soft fork upgrades.)? I don’t understand what OP_SUCCESS specifically redefines? How is it used?

In tapscript when the interpreter encounters one of the OP_SUCCESSx opcodes, it instantly succeeds. In the future this might change, and some opcodes might enforce restrictions - soft fork. But the future is not here yet, so nobody knows what and how exactly would happen. So there was OP_CAT at the very beginning, then it was disabled, and now inside tapscript there's OP_SUCCESS126 instead, which might change (in future tapscript version) to something else (instead of instant success).

Here is the list of the codes redefined as OP_SUCCESSx, the red ones were disabled in usual script:
OP_RESERVED = 0x50, OP_VER = 0x62, OP_CAT = 0x7e, OP_SUBSTR = 0x7f, OP_LEFT = 0x80, OP_RIGHT = 0x81, OP_SIZE = 0x82, OP_INVERT = 0x83, OP_AND = 0x84, OP_OR = 0x85, OP_XOR = 0x86, OP_RESERVED1 = 0x89, OP_RESERVED2 = 0x8a, OP_2MUL = 0x8d, OP_2DIV = 0x8e, OP_MUL = 0x95, OP_DIV = 0x96, OP_MOD = 0x97, OP_LSHIFT = 0x98, OP_RSHIFT = 0x99,
and everything between
OP_CHECKSIGADD = 0xba,and
OP_INVALIDOPCODE = 0xff,

pooya87

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Quote from: BlockchainYM on August 23, 2021, 08:57:09 AM

I read the code, but I didn’t understand what is the purpose of this upgrade of OP_SUCCESS? Can you give me a detailed explanation? Thank you

If you are familiar with bitcoin scripts then you can think of OP_SUCCESS as something very similar to OP_NOP. We already have a couple of them in bitcoin, for example OP_NOP2 which made activating OP_CheckLocktimeVerify possible through a soft-fork. The only difference is that OP_NOPs don't do anything (interpreter simply moves to next OP) but OP_SUCCESS stops there and returns TRUE no matter what comes next.

BlockchainYM

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Quote from: j2002ba2 on August 23, 2021, 10:45:49 AM

Quote from: ?? on ??

I read the code, but I didn’t understand what is the purpose of this upgrade of OP_SUCCESS? Can you give me a detailed explanation? Thank you

This makes taproot upgradable.

I know, but can you tell me the specific meaning of tapscript (Many previously disabled opcodes are redefined to be OP_SUCCESS opcodes that unconditionally render the entire script valid to simplify soft fork upgrades.)? I don’t understand what OP_SUCCESS specifically redefines? How is it used?

j2002ba2

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Quote from: ?? on ??

I read the code, but I didn’t understand what is the purpose of this upgrade of OP_SUCCESS? Can you give me a detailed explanation? Thank you

This makes taproot upgradable.

BlockchainYM

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Quote from: gmaxwell on August 16, 2021, 09:43:35 PM

Quote from: pooya87 on August 16, 2021, 11:00:37 AM

There aren't any string concatenation OPs in bitcoin simply because there is no use cases for it in a payment system.
There used to be a couple of disabled OP codes in early version that are completely removed now that use to deal with string manipulation: OP_CAT, OP_SUBSTR, OP_LEFT, OP_RIGHT

There absolutely are use cases! Unfortunately the original construction could be abused to cause nodes to require petabytes of ram ... Fixing that requires imposing additional restrictions, and without planning for specific uses it can be hard to be confident that the restrictions don't break them.

... and demand for fancy use cases seems pretty limited-- which doesn't motivate people to do the design and validation work needed to reintroduce the operations.

I already know about tapscript in this link (https://bitcoinops.org/en/topics/tapscript/), but I still can’t understand it thoroughly. Can you help me? Like information that is easier to understand. Especially about Many previously disabled opcodes are redefined to be OP_SUCCESS opcodes that unconditionally render the entire script valid to simplify soft fork upgrades. Can you explain it to me in detail? I don't quite understand what this upgrade brings about the OP_SUCCESS opcode?

Quote from: pooya87 on August 19, 2021, 09:27:07 PM

Quote from: BlockchainYM on August 19, 2021, 08:17:58 PM

I don’t know if you have noticed the word redefine. I don’t understand how the disabled opcode is redefined by OP_SUCCESS.

It's very simple, the script interpreter starts with evaluating the output script being spent and when it is version 1 witness script it uses a different route for evaluation. That way it cutes the script in another method that checks the OP code to be in a certain range (including those disabled OP codes) and considers them OP_SUCCESS and simply returns true when they are in a Taproot script.
In a way it is bypassing the old evaluation where these disabled OP codes are rejected.

I read the code, but I didn’t understand what is the purpose of this upgrade of OP_SUCCESS? Can you give me a detailed explanation? Thank you

Carlton Banks

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Quote from: Pmalek on August 22, 2021, 01:52:57 AM

the interest rates on some platforms are around 10%.

ot, but...

red flag rate of return IMO

any time ROI is at or approaching >10%, there is a strong tendency for the company/platform to pay out reliably... for a while, and then reliably disappear into a puff of smoke

I would suggest not talking about this kind of thing, lest you be accused (fairly or unfairly) of shilling for such schemes

pooya87

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Quote from: Pmalek on August 22, 2021, 01:52:57 AM

Not necessarily. Based on some very basic knowledge I have on this, the interest rates on some platforms are around 10%. Some offer less, some more. The taxes differ from country to country, but let's say that 15% to 20% is the average value. Maybe I don't want to sell my bitcoin today and buy back less in a year from now when I pay back my loan.

Fair enough.

Quote from: Pmalek on August 22, 2021, 01:52:57 AM

You lost me here, sorry.

Tax reports are mandatory when using a centralized exchange that already reports you to IRS not when using a DEX that doesn't leave that much trace behind.
The same laws would apply to the loans if the platform were centralized. Not to mention that Usury is illegal in some parts of the world and in some other parts only the interest rate are regulated. Besides if some day decentralized loans on a centralized platform become a thing, additional laws will apply such as taxing the profit the lender makes. Even if it is fully decentralized the lender and borrower can still be taxed. So you can't use the argument of lack of taxes as a benefit of DeFi

Quote from: Pmalek on August 22, 2021, 01:52:57 AM

Are there such platforms and solutions that provide such services?

I haven't searched but it shouldn't be that hard to write https://en.bitcoin.it/wiki/Smart_Property

Topic: Taproot proposal - page 3. (Read 11665 times)