November 30, 2021

The Catholic Transcript

Complete News World

The first transactions after the Bitcoin update are from Brazilians

The first transactions after the Bitcoin update are from Brazilians

The Bitcoin update has already been confirmed on the network, with Brazilians already testing the advantages of Taproot in transactions.

The update was expected a few months ago by the Bitcoin community around the world, which saw the latest update implemented in 2017, when executing Continued.

However, the Taproot is an update Which can be considered the most important in the history of Bitcoin, adding more privacy to the cryptocurrency ecosystem.

The event took place in the building 709,632, but in block 709635 alone the first 14 Taproot-enabled transactions appeared.

Brazilians Leave Messages After Bitcoin Taproot Update

Brazilian Narcilio Son He was one of the first to use the Bitcoin Taproot update, which was mined at dawn from Saturday to Sunday (14). According to him, 3 of the 14 mined transactions were carried out by three Brazilians after the update.

“The first block with Taproot was 709635 (containing 14 such transactions) and 3 Brazilians!”

In his post, the crypto operator and Bitcoin fan said it was the fifth transaction to be included in the block. For this, he used the fractions he had received by Marcio Gandra when they performed a transmission experiment Bitcoin after it is reflected on the moonwhich occurred in April 2021.

He had posted the day before that he was waiting for the block to be able to take part in the long-awaited initiative around the world, and left a message in the block.”Narcilo is still here”, which would be something like “Narcelius is still here” in the literal translation.

See also  Nobody beats Mega Sina and the prize goes to 35 million Brazilian riyals - National

Narcélio Filho explained that he had already tested Segwit and now he has done the same with Taproot: “on the run”

in conversation with LefcoinsAnd Narsilium He remembers that he was one of the first to test Segwit in 2017, and has now retested it with Taproot.

I always like to try out these new Bitcoin features, to see how they work. And it’s always fun to rush to make your presence felt on the first block. I did it back in SegWit day and I’ve done it again now.

I already did some tests on the testnet, but I left it to do the transaction at the last minute, it seemed like it was time. I was quiet until suddenly 18 blocks passed in one hour! 5 per minute. Then I started running to the end, otherwise I wouldn’t have time. I managed to assemble it within a few minutes.

The strangest thing is that after activation, none of our transactions get into the blocks. AntPool mined one with no root master, then another and nothing. But then the third came and went in. Hence the suspicion that they may have lied earlier this year, during the signs, and were not supported at all.

Joao Dias was inspired by Narcélio to test the Taproot

Another person who tested the Bitcoin update was Brazilian Joao Dias (now) who posted a tribute to Narcélio Filho, who said he was inspired to study more in depth about Bitcoin, he told Lefcoins.

“In my case, I was only able to do this because Narcilio was an inspiration to me. By the time Segwit came out, he did something similar. This opened my eyes to study Bitcoin more deeply.”

On Twitter, one of the first Brazilians to test Bitcoin created a Discussion Where he explained more about the details of his tests.

See also  Stay on top of the top 5 market news on Tuesday from Investing.com

Otto has been waiting for days to make his treatment

Another Brazilian who sent a transaction with Taproot was Otto, which has already tested the new Bitcoin technology and posted a message. in conversation with Lefcoins, the Brazilian enthusiast said he already had his treat ready for several days, just waiting for the exact moment to spread it across the network.

“My transaction was ready several days ago, just waiting to be sent.”

He noted this in an audio chat on Discord, in the Bitcoin community, where several interested parties spoke on the topic. According to him, it was really cool to participate in the start of Taproot in the Bitcoin network, which was very successful.

Otto said they kept following everything on mempool.space, which made the Taproot activation block golden and glowing, and colorful clippings appeared when they were validated on the network. However, no one was approved for this transaction, taking some first blocks to validate their transactions, which is fun.

Until, one missing, mempool.space had the following block golden and glowing. Someone said they can send the transaction now (we thought we could only do the next transaction) and we sent it. Someone named b10c made a program that monitors and broadcasts the core transactions of the block. We saw our treatment entering the mempool of his life.

Until the block arrived, scraps of paper exploded in mempool.space. But none of our transactions (nor any major roots). Then another block came without them, another block. I even thought the main root update had failed, when they finally got to the next batch. “

See also  Rising Interest Rates and Falling Stock Market: What Investment Opportunities Have Appeared After Recent Market Adjustments?

The price is not likely to change in the short term, but the fundamentals are very good

These changes should not be reflected in the price of Bitcoin in the short term, as the market has not yet assessed the benefits that the new update will bring, but the scenario is certainly promising for those who want to use the network as a means of payment.

Remember that this update will not be used as much by transactions and regular users as compared to SegWit. Despite this, multisig transactions already account for 11% of all transmissions and this update should benefit all network users.

In any case, Taproot is expected to be implemented since June 2021, when Agreed network of miners with the update. Since Bitcoin is a decentralized currency, the decision-making in Bitcoin involves the consensus of the majority of the network, which ended up not causing conflict.

Bitcoin developer and educator Jimmy Song said that in his first tests with Taproot, he found the solution to be very well designed.

“I knew I was conceptually clever, but now I know everything was designed really well. Good job the core Bitcoin developers and everyone else who helped make Taproot happen!”