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Hunter ₿eaṩt
1mo ago
It's kinda thinking about it backwards... Basically, there's the scriptPubKey and the witness... The scriptPubKey contains a SegWit v1 opcode for Taproot plus a 32 byte x-only public key. This is the address you send funds to. Then, to spend them, you have to sign a transaction, then include the 64 byte Schnorr signature in the witness to verify you own the private keys to that address. The efficiency gain here is that the 32 byte public key doesn't need to be included in the witness also (that would cost 8.25 bytes with the 4x witness discount-- 32 / 4 = 8, 1 byte for OP_PUSHBYTES32)
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Bertha
@btclnd
♥︎ by author
1mo ago
Very interesting, thanks for the explanation!
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Big Barry Bitcoin
@Big Barry Bitcoin
♥︎ by author
1mo ago
I am just surprised because so many, including myself have celebrated the fact that the public key is protected behind a hash. I'm surprised that this decision didn't cause controversy in the space in itself.
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Hunter ₿eaṩt
@HunterBeast
♥︎ by author
1mo ago
The Taproot decision did, somewhat, back in 2020, on the bitcoin devs mailing list. But I guess that feedback wasn't taken seriously, especially by core dev Pieter Wuille.
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Big Barry Bitcoin
@Big Barry Bitcoin
♥︎ by author
1mo ago
It didn't hit my Twitter, Reddit or Bitdevs UK at the time. 😮💨
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