In the coming days, the Taproot Bitcoin network should be updated and most sources call Saturday as the activation date.
Taproot – this update, which will improve Bitcoin's scripting capabilities, bringing it in line with competing blockchains like Ethereum, who already have programmable smart contracts.
Taproot will also implement MAST technology (Merkelized Abstract Syntax Tree), which will make it difficult to track and analyze BTC transactions. This will be achieved by, that complex transactions, e.g. multisignature and Lightning Network transactions, become indistinguishable from underlying transactions.
Besides, update will introduce Schnorr signatures, which will reduce the size of transactions through data aggregation.
Together, the above features will enable developers to create more complex Bitcoin applications., and end users will benefit from cheaper and more confidential transactions.
Taproot is the most significant update to the Bitcoin network since 2017 of the year (then the SegWit function was implemented). Although the update has already received support from miners, to activate the process, you will need to get 800 blocks. According to NiceHash, the update will take place in 1:00 UTC on Saturday 14 november. Another website, Taproot.watch shares this rating..
Probably, waiting for the update was one of the factors, contributed to the growth of the BTC rate and the update of historical highs. Maybe, that the hype around Taproot is over, but there is a chance, that Saturday's update will bring BTC to higher highs.
