After a sharp decrease last week, just after the most expensive cryptocurrency reached a new all-time high, Bitcoin's value has stabilized over $64,000 (about Rs. 47.6 lakh). Bitcoin is now trading at $71,073 (approximately Rs. 52.9 lakh) on the Indian platform CoinSwitch Kuber, while BTC is selling at about $65,823 on global exchanges like CoinMarketCap and Binance (roughly Rs. 48.9 lakh).
The most significant network update in years improves privacy and scalability while also introducing smart contracts.
The Bitcoin network has received a major technical upgrade known as Taproot, which is the network's most significant update since 2017. The latest version went live on November 14 and will let developers implement new features that will improve the Bitcoin network's privacy, scalability, and security. Since June, when over 90% of miners elected to "signal" their support, the update has been anticipated.
Bitcoin is acquiring new privacy features as public anxiety grows over cryptocurrency's usage in recent cyberattacks. Its primary advancement makes the network simpler to use for certain massive embedded programs known as smart contracts, the so-called Taproot upgrade may also let more individuals utilize private wallets and services that will make determining who paid whom more difficult.