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It helps avoid any interruptions, glitches, or damage done to the main blockchain network. Testnets are also used for market simulations or to experiment with the development of new <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-cryptocurrency/">cryptocurrencies./nThe process of implementing new upgrades to a blockchain is complicated and can lead to service outages, bugs, or even <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-fork-software/">network forks</strong></a>. Therefore, a completely separate blockchain network is utilized to test the possible scenarios and functionalities of the product.</p>\n<p><strong>Testnets help to</strong> <strong>detect any errors or system issues</strong>, as well as potential vulnerabilities that could be exploited by malicious parties. 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The first factor is the traditionally used password while the second factor is a code sent through a secure platform or even biometric authentication.</p>\n<p>You can see this feature being implemented in many various platforms, including <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-exchange/">cryptocurrency exchanges</strong></a>. Users within those platforms must set a password that complies with the secure password requirements, however, if they want an enhanced layer of security and protection added to their account or <a href=https://www.bitdegree.org/"/crypto/learn/crypto-terms/what-is-wallet/">wallet, they can easily set up two-factor authentication.</p>\n<p>Two-factor authentication works like this - when the user wants to connect to his account they enter the password into the login screen which triggers the requirement for a second piece of information. <strong>This secondary information could be a security code, a link sent to your email address, a call to action button on an app, and many other 2FA options</strong>. It’s important to note that it’s not another password.</p>\n<p>As mentioned above, it’s possible to employ biometrics as a second piece of information for authentication. There are three most widely used options:</p>\n<ol>\n<li><strong>Fingerprint scan</strong>. Apple popularized this method with their iPhone 5s which was the first smartphone that scanned fingerprints in order to grant access. It doesn’t remove the need for passwords, but it speeds up the process. Fingerprint scans are still integrated within a lot of smartphones;</li>\n<li><strong>Face recognition</strong>. Another method that’s widely used on smartphones. Their 3D cameras are able to effectively scan the face thus only granting access to the owner;</li>\n<li><strong>Retina scan</strong>. This complex authentication method is generally utilized within systems that require an extremely high level of security such as the military or government. It involves scanning the blood vessels of the person's retina since each person has a unique retinal blood vessel pattern. It's considered to be one of the most reliable biometric authentication methods.</li>\n</ol>","level":"medium","meta_title":"What is Two-Factor Authentication (2FA)? Definition & Meaning | Crypto Wiki","meta_description":"Two-Factor Authentication (2FA) meaning: Two-Factor Authentication (2FA) - grants access only to those users who pass two different authentication forms.","meta_keywords":null,"language":"en","created_at":"2022-04-01T14:34:38.000000Z","updated_at":"2023-03-28T06:12:23.000000Z","preview_url":"https://www.bitdegree.org/crypto/learn/crypto-terms/what-is-two-factor-authentication-2fa"},"currentChapter":"T","currentSection":"what-is-taproot","chapterTitle":"T","readingLevel":"easy"},"url":"/crypto/learn/crypto-terms/what-is-taproot","version":"cdd198d50cbe5c9c21c9329d7c096ffc"}" class="container-fluid d-flex crypto-book p-0"> Crypto Terms: Letter T
What is Taproot?
Taproot MEANING:
Taproot -
a Bitcoin upgrade set to improve the network’s privacy, scalability, and overall efficiency.
Let's find out Taproot meaning, definition in crypto,
what is Taproot,
and all other detailed facts.
Taproot is an upgrade to the Bitcoin blockchain that was activated in November 2021 at block 709,632. It was the first major upgrade to Bitcoin since Segregated Witnesses (SegWit) in 2017.
The Taproot soft fork aims to improve the scalability, privacy, and efficiency of crypto transactions on the Bitcoin blockchain. The upgrade consists of three separate Bitcoin Improvement Proposals (BIPs):
- BIP340 (BIP – Schnorr);
- BIP341 (BIP – Taproot);
- BIP342 (BIP – Tapscript).
The Schnorr improvement proposal introduces the Schnorr Signatures scheme. The new signatures help optimize transaction authorization by making the process more secure and reducing the data load. Schnorr Signatures allow users to produce a single signature by taking multiple keys in a single Bitcoin transaction.
The Schnorr update enables the Taproot proposal, which introduces the “MAST” mechanism. MAST helps reduce the transaction data that smart contract sends to the blockchain. The Taproot proposal improves the transaction anonymity by obscuring some of the private information, such as whether the transactions used timelock or multi-signature mechanisms.
Instead, complex transactions will be logged as one transaction on-chain. Anyone attempting to read the data of a complex transaction would see it as peer-to-peer (P2P) and will be unable to view the scripts used.
The Tapscript improvement proposal was added to make way for any future improvements. It uses an upgraded transaction programming language and is expected to make future Bitcoin upgrades more efficient.
