Bitcoin Taproot Soft Fork Upgrade: DeFi competition for Ethereum and other blockchains?
The latest Bitcoin update was the Segregated Witness (SegWit) soft fork update in 2017. This eventually ended in a split in the Bitcoin community and to an undesirable hard fork that created Bitcoin Cash.
In November 2021 Bitcoin will undergo a significant soft fork upgrade. In contrast to the SegWit update, this update has the full support of the Bitcoin community and the risk of an unexpected hard fork like the one in 2017 is negligible.
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7 October 2021