The Bitcoin Optech newsletter provides readers with a top-level summary of the most important technical news happening in Bitcoin, along with resources that help them learn more. To help our readers stay up-to-date with Bitcoin, we’re republishing the latest issue of this newsletter below. Remember to subscribe to receive this content straight to your inbox.
This week’s newsletter describes recent changes to services and client software, discusses why wallets should wait before generating taproot addresses, lists new software releases and release candidates, and summarizes notable changes to popular Bitcoin infrastructure software.
No significant news this week.
Changes to services and client software
In this monthly feature, we highlight interesting updates to Bitcoin wallets and services.
Preparing for taproot #5: why are we waiting?
A weekly series about how developers and service providers can prepare for the upcoming activation of taproot at block height 709,632.
Earlier entries in this series saw us encouraging developers working on wallets and services to begin implementing taproot upgrades now so that they’re ready when taproot activates. But we’ve also warned against generating any addresses for P2TR before block 709,632 as this could cause your service or your users to lose money.
The reason not to generate addresses in advance is that any payment to a P2TR-style output can be spent by anyone prior to block 709,632. The money would be completely unsecured. But starting with that block, thousands of full nodes will begin enforcing the rules of BIP341 and BIP342 (and, by association, BIP340).
If it was guaranteed that there wouldn’t be a reorganization of the block chain, it would be safe to start generating addresses for P2TR as soon as the final pre-taproot block was seen (block 709,631). But there’s reason to be concerned about block chain reorgs—not just accidental reorgs but also those deliberately created to take money from early P2TR…