BIP 340 (Schnorr Signatures)
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Bitcoin Improvement Proposal (BIP) 340 introduces Schnorr signatures to Bitcoin Core. Schnorr signatures offer several significant advantages over ECDSA, the digital signature scheme Bitcoin has used since inception.
Included in BIP 340 is a detailed description of how Schnorr signatures can be created and validated. In addition, new formats for Schnorr signatures and public keys are defined. Schnorr public keys will be 32 bytes, and Schnorr signatures will be 64 bytes long, compared to ECDSA public keys and signatures, which are 33 and 70-72 bytes long respectively. These minor space savings will yield savings on transaction fees for Bitcoin users who use Schnorr.