Big technical update on cryptocurrency Bitcoin

Last Updated on 26/01/2022

 

Big technical update on cryptocurrency Bitcoin


The Bitcoin Network has undergone the biggest technical update to date (Tap Root). It was updated on November 14. This update will enable new features to improve privacy, scalability and security on Bitcoin. Supported

Updated to add SEWIT to the Bitcoin network in 2017 Tap Root has introduced Signature Which could lead to more complex transactions on the Bitcoin network. The transaction used to signature uses the Tap Root SCHNORR scheme. It is faster and shorter than ECDSA.

What is a smart contract in cryptocurrency?

In cryptocurrency the contract is written in code which the creators upload in blockchain then they are stored in a public ledger. These are tamper-proof. Small contracts are like an if-then statement. All the computers that are in the network and keep track of the transactions that are taking place in the digital laser, so any tampering with it will be detected by everyone, this is smart contact.

Also read – What is Bitcoin

Documents required to buy and sell Bitcoin

To buy and sell Bitcoin you need an account. You need to verify your identity for the account on the website for which you need the required documents.

  • Aadhaar card, PAN card, Voter ID can be used for ID proof
  • Your bank account from which you pay in purchase endorsement
  • You can easily buy with debit card, credit card etc.
  • PAN card is a required document
  • Email ID is currently required to create your account

Crypto exchanged Rs.1000 for Rs.28.54 crore

The crypto market has seen rapid fluctuations but sometimes unexpected ups and downs are the only wonders of the cryptocurrency market. ARC Governance has shaken the market in 24 hours. Changed as the price dropped sharply after a while

A one-day rally raised the price of ARC governance from 0. 0.35 in one day to a high of 99 991.71. Later, the decline was even faster. The volume of was increased from 2000 percent to 227500


Also read – What is cryptocurrency?

Made Segal, CFO of Twitter made a statement on crypto

Mad Segal, Twitter’s chief financial officer (CFO), said in an interview that there was no point in investing in cryptocurrencies because of the rapid rise and fall and the lack of industry rules and regulations.

According to Mad Segal, if Twitter invests in crypto and other currencies, then a change in investment policy rules is very important. The company is not making a corporate investment in cryptocurrency. Twitter has not yet directly invested in cryptocurrency.

7395 crore bitcoin transaction between unknown wallets

7395 bitcoins have been transacted from Whale account to another anonymous account. No information has been received from the owners of this anonymous wallet. Holdings have not been sent to the exchange platform.

This large Bitcoin transaction is a Bitcoin token transaction of over 15078. The transaction was the first broadcast on the Bitcoin network on November 15, 2021.

Private cryptocurrency can be found Ban know complete information

The government of India announces a cryptocurrency bill related to the ban on private cryptocurrency and the Government of India can bring its own digital currency and after announcing the bill to ban private cryptocurrency about 15% of most cryptocurrencies in the crypto market. Fell


Key information related to crypto

  • About 8% are crypto investors in India
  • The launch could be the Reserve Bank’s digital currency
  • The private cryptocurrency can be banned or regulated by the Government of India.

Bill on cryptocurrency on November 29

The Government of India is going to bring a bill on cryptocurrency. The winter session of Parliament will start from November 29 in which 26 bills will be introduced. One of these bills will be the Cryptocurrency Regulation Bill 2021.

The bill also raises the possibility of banning private cryptocurrency. In addition to the ban, the government may also impose a capital gains tax on cryptocurrency trading and investments.

Investors worried over ban on cryptocurrency

About 1.5 crore people in India have invested in cryptocurrency. They have invested heavily in crypto. Following the statements of PM Modi and RBI governor, news of ban on cryptocurrency has caused a sharp decline in the crypto market, creating an atmosphere of fear and anxiety among investors. 

With the news of the bill in the winter session of Parliament starting from November 29, investors are confused about their investment. Will the government impose a complete ban on cryptocurrency?


FAQ’s

What percentage of minors support Tap Root update?

90% of minors have given their support to technical update Tap Root

What are the documents required to buy and sell Bitcoin?

Aadhaar Card, PAN Card, Voter ID etc.