馃攳
Big Update! BITCOIN Upgrade smart contract and Taproot Technology after 4 Years! | BITCOIN TAPROOT - YouTube
Channel: Thinksmart Brother
[0]
all right let's talk about this new
[2]
right here today
[4]
bitcoin just got its first makeover
[8]
in four years what is
[11]
this new really mean for cryptocurrency
[15]
what is mean for bitcoin and the whole
[18]
entire markets of cryptocurrency
[22]
such as dose coin when it comes to the
[25]
good news of bitcoin i don't know about
[27]
you guys but i
[28]
super excited when i hear that bitcoin
[32]
get the update the upgrade because why i
[35]
always see that
[36]
bitcoin is the market leader and when
[39]
the market leader which is the big
[41]
brothers
[42]
doing good that's when the little
[44]
brother like those corn
[45]
will do good as well because when the
[48]
market leader rise
[49]
then the little brother would will rise
[52]
at the same time
[53]
and when the big brother right now is
[55]
fall chance all the whole entire market
[57]
is gonna fall as well right
[59]
so today let's talk about bitcoin a
[61]
little bit and after that i'll give you
[63]
my take so bitcoin just got the first
[66]
makeover in four
[67]
year the first bitcoin upgrade in four
[69]
year approved by the
[71]
miner around the world and this thing is
[74]
called
[74]
tap root and this thing is going to come
[77]
effect in november
[80]
the upgrade mean greater transaction
[83]
privacy and efficiency okay and
[86]
it will unlock the potential for smart
[89]
contract the key feature
[91]
in the blockchain technology so the idea
[94]
in here is
[94]
i think that when they start to upgrade
[97]
this technology because if you know that
[99]
bitcoin haven't really upgrade and take
[101]
that technology
[103]
seriously in the last few years but now
[105]
they're about to have a really big
[108]
upgrade to make uh the transaction
[111]
it's going to be faster safer
[115]
and have more privacy and it's allowed
[117]
more developers to integrate as well
[120]
and this thing is called tap root okay
[123]
which means it's unlocked the potential
[125]
for smart contract
[127]
lower transaction fee and many different
[129]
things come
[130]
good inside the blocked blockchain
[133]
technology
[134]
bitcoin the first bitcoin upgrade in
[137]
four year
[138]
has approved by miner around the world
[140]
okay
[141]
it is a rare moment of consensus
[143]
consensus among
[145]
stakeholder crypto expert and this is a
[148]
really big deal in the cryptocurrency
[150]
world
[151]
the upgrade is called tap tap
[154]
put or tap root or whatever it is okay
[157]
it's due to
[158]
take effect in november so i expect that
[161]
in november when these things start to
[163]
integrate
[164]
and start to upgrade i think bitcoin it
[167]
probably could rise to its all-time high
[171]
okay because the technology has been
[173]
upgraded
[174]
uh so that's mean probably in november
[176]
they're going to be a
[177]
big jump in the cryptocurrency
[180]
marketplace
[182]
it is crucial will unlock the potential
[184]
for smart contract
[186]
it is the key feature of blockchain
[188]
technology eliminate the middleman
[191]
uh even the most complex technology
[193]
transaction
[195]
so doesn't mean if you know about um
[197]
smart contract
[198]
based on what i know a smart contract is
[201]
allow
[203]
you to uh process transaction is going
[206]
to be lower in fee
[207]
faster and it's more efficiency and it's
[210]
also going to cut the middle man
[212]
it's kind of like the credit card right
[213]
when you process credit card
[215]
they're going to be uh transaction fee
[218]
that's that's going to be
[219]
like the fee of the credit card and
[220]
sometimes the fee of the bank
[222]
as well so the bank and the credit card
[225]
sometimes
[226]
is the middleman right but when you
[228]
process
[229]
to a smart contract smart contract it
[232]
help to
[233]
eliminate the middleman and make the
[235]
transaction faster
[236]
and it's reduced the fee from the
[239]
consumer like me
[240]
to the end user taproot matter because
[244]
it's open
[245]
a brief opportunity for entrepreneur uh
[248]
interesting and expand
[249]
bitcoin utility the founder okay
[252]
xyz not really important right here so
[255]
what is changing bitcoin makeover has to
[259]
do
[260]
with the digital signature which
[263]
you can think of as a fingerprint and
[265]
individually
[267]
on every transaction they make right now
[269]
the cryptocurrency used something called
[272]
elliptic curve digital signature
[274]
algorithm which created a private key
[276]
which control bitcoin wallet and ensure
[280]
bitcoin can be spent by rifle
[282]
owner tap root will switch over
[285]
to something known as a snore signature
[289]
which essential make multiple signature
[292]
transaction
[292]
unreadable so that means it encrypt is
[295]
make the
[296]
privacy better okay probably
[300]
it's gonna cause and it's gonna help
[304]
the end users and the user like me uh to
[307]
have more security
[309]
and more privacy
[312]
in practice doesn't mean greater privacy
[314]
because
[315]
your key won't have as much exposure on
[317]
the chain so that means they cannot see
[320]
many different key that you send from
[322]
one place to another
[324]
you can you kind of hide who you are a
[326]
little bit better
[327]
so it's more um it's safe there
[332]
so currently smart contract can create
[334]
it both
[335]
on the bitcoin core
[340]
protocol layer and lighting network
[344]
payment platform built on bitcoin which
[346]
enable instant
[348]
transaction smart contract execute on
[350]
lighting
[351]
network typically to faster
[354]
right here this is the key right here
[355]
smart contract it helps
[357]
the network to make it faster and the
[361]
transaction fee
[363]
lesser okay like the transaction
[366]
can be fraction of a penny while bitcoin
[369]
transaction
[370]
so this is a really big change for
[373]
bitcoin for years
[374]
now bitcoin can cost less and the
[377]
transaction is going to be faster
[379]
and on top of that developer have
[382]
already begun to build
[384]
on lighting in anticipation of the
[386]
upgrade which allow
[388]
high specific contract so it seems like
[391]
to me
[392]
that this smart contract and taproot
[395]
is allow the developer to utilize on
[398]
this technology
[399]
and that means more programmer more
[402]
developer
[403]
able to use this technology smart
[405]
contract
[406]
to build on on the blockchain network a
[409]
bit
[409]
of bitcoin so that way i guess later on
[413]
um more uh developers
[416]
more uh programmers gonna gonna start to
[419]
utilize this technology to develop more
[422]
apps to develop more blockchain
[424]
technology
[425]
so think of it like back then right um
[429]
apple created the app store
[433]
and when apple created the app store
[435]
they allow you to
[437]
create your own app so as a developer
[440]
like myself for example
[442]
i can go inside the app store and create
[444]
my own app
[446]
and upload on apple store right
[449]
and later on facebook they start to
[452]
develop their own app to put on facebook
[455]
um
[456]
network and it's allowed developer to go
[458]
and create
[459]
their own app like the game the software
[462]
the web base and a ton of thing on
[466]
facebook app store okay so now when it
[469]
comes to block
[470]
blockchain technology i really think
[472]
that
[473]
if smart contract uh and the top root
[477]
upgrade and bitcoin is gonna allow a lot
[480]
of developers
[481]
and it's gonna allow a lot of a
[483]
programmer the opportunity
[485]
so they can create different kind of
[487]
startup and they can use a lot of this
[489]
technology
[490]
and on top of that maybe um
[493]
those coins they can tap into some of
[495]
this technology from ethereum
[497]
from uh bitcoin and they can leverage
[500]
each other technology to grow
[503]
their particular um cryptocurrency
[507]
even faster so i think as bitcoin start
[511]
to expand more and more and more
[513]
that's mean um more other cryptocurrency
[517]
like dose corn and any other
[520]
coin they can leverage this technology
[522]
to grow even faster and it's invite a
[524]
lot of developer
[526]
and program to go in here and leverage
[528]
the technology to grow their stall up so
[529]
that's mean
[530]
the cryptocurrency is going to become
[532]
better and better okay
[534]
as uh bitcoin progress as well
[537]
so uh technically i think this what uh
[540]
technically i think this is
[541]
what this particular article is really
[544]
about
[545]
it's basically uh mentioned that um
[547]
bitcoin for the last
[549]
few years they haven't really made a big
[552]
change
[552]
and i think this is the really big thing
[554]
for bitcoin
[555]
is the taproot smart contract technology
[559]
to upgrade into the blockchain system so
[561]
i am super excited
[563]
for the future of bitcoin so this is the
[566]
reason why
[566]
many uh experts predict like kathy wood
[569]
champ
[570]
they think that bitcoin probably could
[572]
hit into a hundred thousand dollar per
[573]
coin
[574]
and i think if bitcoin really improved
[576]
the technology and especially
[578]
cryptocurrency is head toward the future
[580]
bitcoin able to hit to a hundred
[581]
thousand dollar per coin
[583]
without any doubt and at bitcoin start
[586]
to rise
[586]
in the store value i really think that
[589]
those corn
[590]
will have their own different unique
[593]
position
[594]
in spending because those coin is really
[596]
about spending right
[597]
fast spending fast transaction and
[601]
bitcoin is the store value and now those
[603]
can tap into the technology of bitcoin
[606]
they can tap into the technology of
[608]
ethereum and on top of that elon musk
[610]
and the developer they can have their
[612]
own way to make the technology even more
[615]
unique but they can leverage
[616]
some of the existing technology to make
[618]
it better in the future so if the future
[620]
for bitcoin is bright
[622]
as the market leader eventually those
[624]
corn
[625]
will become better as well and who know
[628]
one day
[628]
maybe the little brother which is those
[630]
coins can overtake
[632]
bitcoin we don't know well let time will
[634]
tell but in my personal opinion i
[636]
believe that one day
[637]
the market value of those coin is going
[640]
to exceed
[641]
bitcoin this is just my tank okay well
[643]
that time in the next five to ten years
[645]
will tell
[646]
but either way i um i like bitcoin
[650]
and i think bitcoin is a great leader
[651]
even though i don't invest into bitcoin
[653]
but i personally think
[654]
bitcoin uh is is um it's a great
[657]
investment
[658]
and i believe into cryptocurrency and
[661]
this is a great new for cryptocurrency
[664]
space right now
[665]
good luck guys and always invest like a
[670]
[Music]
[672]
genius
[677]
you
Most Recent Videos:
You can go back to the homepage right here: Homepage