Bitcoin is getting ready for Taproot upgrade while Ethereum’s community is guessing whether Metamask will airdrop its tokens.
Taproot is on its way to Bitcoin mainnet
The first major upgrade to Bitcoin network consensus since 2017, Taproot softfork, will go live in Bitcoin mainnet on November 14th.
Bitcoin processes as many daily transactions as Fedwire did in the late 90s.November 9, 2021
It's plenty efficient, and Taproot will be one more step in the right direction. pic.twitter.com/DdKcwlDjVL
This update won’t result in network split: no action is required from Bitcoin holders, liquidity providers, DeFi users or traders. At the same time, all Bitcoin miners should update their software.
The introduction of the Merkelized Abstract Syntax Tree (MAST) is the most radical and crucial change to the Bitcoin mechanism that is included in Taproot softfork. MAST implementation will make Bitcoin more suitable for small transactions and increase the privacy of a flagship blockchain.
Also, Taproot activation will bring Schnorr Signature instrument to Bitcoin transactions: multiple signatures can now be attributed for a single transaction. The observers will no longer be able to identify whether the transaction is issued by multi-sig wallet or not.
Will Metamask launch a token or Wen airdrop?
Metamask, a most popular non-custodial browser wallet for Ethereum and all EVM-compatible (Ethereum-like) blockchains, might be considering the launch of its native tokens.
Joseph Lubin, one of Ethereum co-founders and head of Ethereum software development studio ConsenSys, hinted at the possibility of native MASK token release.
Andrew, ConsenSys has thousands of tokens on our balance sheet. ConsenSys is vigorously controlled by its employees, which includes me. And we are driving towards decentralization of several of our projects. Wen $MASK? Stay tuned. Wen objective journalism, ser?November 8, 2021
Why is this crucial?
Should MetaMask release its own token, it will highly likely be airdropped to the majority of Ethereum owners who used Metamask wallet previously.
These rumors are catalyzed by the retroactive airdrop of ENS tokens to all enthusiasts of Ethereum Name Service. Average user received more than $10,000 for free just as a reward for his/her previous activity with a popular crypto wallet.
Similar breath-taking airdrops were organized in late 2020 by major decentralized crypto exchanges Uniswap and 1Inch. If launched, an airdrop by Metamask would be the largest in the entire history of the cryptocurrency segment.
Is Silver really surpassed by Bitcoin?
Today, on Nov.9, 2021, Bitcoin price printed its new all-times high over $68,900 on major spot trading platforms. However, this isn’t the only accomplishment of the first cryptocurrency.
According to some sources, Bitcoin market capitalization may have surpassed that of the second precious metal, i.e. Silver. However, the aggregated market cap of Silver is debatable, so, this record can’t be registered officially.
However, according to the reputable tracking dashboard Fiatmarketcap, Bitcoin surpassed Swiss Franc by aggregated market cap.
As such, Bitcoin is now the 14th largest world currency.