The Taproot upgrade, activated in 2021, has sparked widespread discussion among Bitcoin developers regarding its utility and impact on the network.
Discussion of Taproot's Shortcomings
Bitcoin developer Jimmy Song reported that the Taproot upgrade failed to consider the 'social attack surface,' which allowed Ordinals and other non-financial transactions to flood the network with spam. He indicated that Taproot did not live up to expectations regarding enhanced privacy and security promised during its rollout.
Divisions within the Bitcoin Community
There are divisions within the Bitcoin community about which transactions should be validated. Participants like Adam Back and Luke Dashjr believe Bitcoin should focus on enhancing its function as electronic cash, while supporters of Ordinals, like Leonidas, leverage Taproot to create new applications.
Potential of Taproot and Its Impact on Bitcoin Security
Despite critical remarks, Song does not rule out the possibility that Taproot could still prove beneficial in the future. He noted that technologies based on Taproot, like Ark and BitVM, might increase demand for Bitcoin. Conversely, supporters of Ordinals argue that their use has contributed over $500 million in fees, thereby strengthening the security of the network.
The ongoing discussion surrounding Taproot emphasizes existing divisions within the Bitcoin community over functionality and network priorities. Questions regarding its efficiency and future potential will continue to attract the attention of both developers and users.
