[Bitcoin Now] Taproot Upgrade Completed... Surpassing 80 Million Won Again

Expectations for Enhanced Privacy Protection and Efficiency through Taproot Upgrade
AMC Introduces Cryptocurrency Payment Service

[Image source=AFP Yonhap News]

[Asia Economy Reporter Gong Byung-sun] The leading cryptocurrency Bitcoin once again surpassed the 80 million KRW mark. This is interpreted as having a positive impact from the Taproot upgrade, which enhances privacy protection and security features.

According to the domestic cryptocurrency exchange Upbit, as of 9:25 AM on the 15th, Bitcoin recorded 80.25 million KRW, up 1.19% compared to the previous day. It exceeded the 80 million KRW mark again after five days since the 10th. As of 11:30 AM on the same day, Bitcoin showed 79.51 million KRW, up 0.26% from the previous day.

The Taproot upgrade is acting as a positive factor. According to the US economic media CNBC on the 14th (local time), Bitcoin underwent the Taproot upgrade. This is a major upgrade conducted for the first time in four years since the SegWit update in 2017. Since upgrading Bitcoin requires consensus among participants such as miners and developers, it is not frequently done. However, it is known that more than 90% of participants agreed to this upgrade.

The Taproot upgrade was implemented to enhance privacy protection and efficiency in Bitcoin transactions. Additionally, this upgrade includes the 'Schnorr signature' feature. The Schnorr signature refers to a multi-signature method that bundles separate transactions recorded at one address into a single key, recognizing them as one transaction. Furthermore, the limit on the number of members that can be added to multi-signatures has been removed, making transactions more efficient.

[Image source=Reuters Yonhap News]

Meanwhile, AMC, the largest movie theater chain in the United States, has started cryptocurrency payment services. According to cryptocurrency specialized media Coindesk on the 14th, Adam Aron, CEO of AMC, explained on Twitter, "As promised, we have introduced various ways to pay online," adding, "Payments can be made with Bitcoin, Ethereum, Bitcoin Cash, Litecoin, etc." Payment services using Dogecoin will also be introduced in the future.

AMC is a movie theater chain with over 600 theaters in the United States. Since the earnings announcement in August, AMC has stated its intention to introduce cryptocurrency payment services, citing that new individual investors want it, which is why they are building a cryptocurrency payment system.