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Taproot was first proposed by Bitcoin Core contributor Gregory Maxwell in 2018. The implementation is currently under development. Without Taproot, complex transactions involving features like time locks and multisignatures would require multiple transactions to complete, making them prone to failure. Taproot allows complex transactions, such as multisignatures and time locks, to execute like a single Bitcoin transaction, thereby enhancing Bitcoin's privacy. The Taproot upgrade includes three significant technical changes (concepts) to enhance Bitcoin's scalability, privacy, and flexibility.
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