Glossary

BIP 341 (Taproot)

1 min read

Bitcoin Improvement Proposal (BIP) 341 defines Pay-to-Taproot (P2TR), a new way of sending bitcoin. P2TR combines the functionality of Pay-to-Public-Key (P2PK) and Pay-to-Script-Hash (P2SH) scripts, giving users great flexibility and privacy benefits.

While BIP 341 defines P2TR, Taproot’s new output type, BIP 342 defines Tapscript, an update to Bitcoin’s scripting language which will allow Bitcoin nodes to validate Pay-to-Taproot inputs.

Taproot will utilize Schnorr signature scheme, as defined in BIP 340. Together, BIP 340, 341, and 342 comprise the Taproot upgrade, which is currently in the process of being activated for Bitcoin.

➤ Learn more about Bitcoin’s Taproot upgrade.

Related Terms
Taproot
The Taproot upgrade is described in BIPs 340, 341, and 342, and introduces the Schnorr signature scheme, Taproot, and Tapscript.
Learn more.
Merkelized Alternative Script Tree (MAST)
A Merkelized Alternative Script Tree (MAST) is a proposal to encapsulate an arbitrary number of different scripts in a Bitcoin address.
Learn more.
Schnorr Signature
Schnorr is a type of digital signature scheme similar to the ECDSA scheme. The Schnorr scheme presents several security, privacy, and efficiency advantages over ECDSA.
Learn more.
ScriptPubKey
The ScriptPubKey is a script which controls how bitcoin can be spent. Bitcoin is locked by the ScriptPubKey and unlocked when the owner submits a valid ScriptSig.
Learn more.
Tapscript
Tapscript is the scripting language used to enable a variety of new transaction types as part of the Taproot upgrade. Tapscript takes advantage of Schnorr signature aggregation.
Learn more.
Explore More Terms →