Bitcoin Taproot and DeFi Potential - News Byte - EP 33
Episode description
In this week's episode of the Block Exploring Podcast, Tommy (@sabaisquared) and Elias (@otokocrypto) discuss the state of the market.
Bitcoin moved down to the 20-day moving average, ETH declined from November 10th, and declined the ascending support line. BNB dove down from 662.90. Cardano plunged below the downline trend and moving averages. Solana plummeted to back to support lines, and is retaining due to large buyback support.
In other news, the Taproot soft fork launched yesterday (11-14-2021), this will improve the scripting capabilities and notably the privacy features of the Bitcoin network. The update focuses on an overall improvement and expansion of the Bitcoin network’s smart contract capabilities and additional privacy features.
These Bitcoin Improvement Proposals (BIP 340/341) seem to extend the operability of smart contracts and private transactions on the bitcoin network. Will we see more functional DeFi projects launch on the Bitcoin network? Will DeFi be an instigator of higher interoperability?
Tune in to find out!
Let us know your ideas on this in the comment section!
--------------------
Join our community Discord: https://discord.gg/BfN9ybDU7n
Check out our socials: https://linktr.ee/blockexplorer
--------------------
Music: prod. Riddiman
--------------------
DISCLAIMER: This podcast is not financial advice