Former BTC Core programmer Jimmy Song recently spoke about the advantages Taproot brings to BTC.
According to him, through the update, users will have new funds recovery systems. In addition, they will have more security when the update is widely adopted.
In an article posted on his blog on November 22, Jimmy commented on a post by Jameson Lopp that talked about Bitcoins that were lost in “accidental loss, digital theft, government seizure, physical theft and estate planning.”
According to Song, after updating one of his programming libraries, it occurred to him that Taproot solves all these problems.
He pointed out that Taproot allows you to define slightly more complex scripts or instructions, known as scriptspends. In other words, “expenses instructions”, in free translation.
This allows you to define instructions that make it possible to release or lock Bitcoins through multi-signature addresses.
Jimmy Song about Taproot
In case of theft, for example, scriptsspendes can prevent BTCs from leaving the wallet. At the same time, they can offer different methods of safeguarding and recovering funds.
Taproot, according to Song, also makes it easy to set up a post-mortem transfer system.
“The details of Taproot are not yet fully understood by the community. That’s because the first uses that users begin to put this technology to is sending and receiving Bitcoins to Taproot addresses in their wallets. But there is still much more to it than just that,” he said.
For Song, as adoption progresses, wallets will allow users to use more advanced functions thanks to Taproot. Among them, the programmer highlighted the new models of BTC recovery tools.
Finally, he pointed out that there are many more developments in security, anonymity and preservation of Bitcoins for cryptocurrency enthusiasts:
“We are just at the beginning of this potential,” he stated.