Bitcoin’s latest upgrade – four years after the “last civil war” upgrade – known as Taproot has now been approved by the crypto miners across the world and is set to take effect in November this year, CNBC reported. The new upgrade will mean higher efficiency and privacy in transactions and will also unlock the potential of a key feature of its blockchain technology – smart contracts – that removes middlemen from transactions including the most complex ones. Taproot intends to change the way in which the scripts operate in Bitcoin for making the blockchain’s privacy, scalability and security better and is designed to achieve by furnishing Bitcoin with a signature scheme called Schnorr signatures, according to CoinMarketCap. Schnorr Signatures were developed by German mathematician and cryptographer Claus-Peter Schnorr. The signatures provide an advantage — they can take multiple keys within a complex Bitcoin transaction and produce a single signature.