Read
Edit
History
Notify
Share
Taproot Exchange
Taproot Exchange is a multi-chain platform dedicated to Taproot Assets derivatives trading. It supports blockchains, including EVM, Lightning, Bitcoin, Solana, and Cosmos, offering users an efficient trading experience. [1][2]
Overview
Taproot Exchange focuses on comprehensive multi-chain support, coordinated liquidity, and a user-friendly interface to eliminate barriers and simplify participation in the Taproot Assets derivatives market. Taproot Exchange aims to connect the future of multi-chain Taproot Assets trading, ensuring broad accessibility and convenience for its users. [3]
Technology
Taproot
Taproot (BIP 341) which went live in November 2021 is an upgrade to Bitcoin which brought several new features (Schnorr Signatures, Taproot & Tapscript). [4]
Schnorr Signature
Taproot utilizes the Schnorr signature algorithm (BIP 340), which, compared to traditional ECDSA signatures, offers higher efficiency and better properties. Schnorr signatures support aggregation, allowing multiple signatures to be merged into one, reducing the size of transactions. [4]
Merkle Tree
Taproot merges all possible paths of a multi-party transaction into a single Merkle root using a Merkle tree. This makes it appear on the blockchain that all these paths converge to the same Taproot address. [4]
Tapscript
Taproot (BIP 342) introduces a new scripting language called Tapscript, enabling more flexible smart contract operations. This allows Taproot to support more complex conditions and rules, providing greater possibilities for various scenarios. [4]
Taproot Assets
Taproot Assets is a protocol based on the Bitcoin blockchain for issuing and transferring assets. The protocol allows users to create and manage multiple assets within a single Bitcoin Unspent Transaction Output (UTXO) and places witness data off-chain, thereby enhancing privacy and scalability. [4]
EVM
EVM (Ethereum Virtual Machine) is a key component of the Ethereum blockchain, serving as a virtual computer or software platform for developers. It is a virtual machine that executes smart contracts on the blockchain and is the environment on which all Ethereum accounts and smart contracts depend. [4]
Taproot Token
$TAPROOT is the utility token for the Taproot ecosystem. It has a total supply of 100,000,000 and of the total supply, 5% was allocated to Airdrop, 25% to the Community & Ecosystem, 10% to Private Placement, 10% to the Team & Advisors, 20% to the Treasury, 15% to the Market, and 15% to Staking rewards. [5]
Multi-chain Assets
Taproot Exchange implements the function of multi-chain transfer of assets, enabling cross-network token transfer between networks such as Ethereum, BSC, and BTC. To ensure the security of multi-chain transfer assets, Taproot exchange adopts the verification mechanism of smart contracts and multi-signatures to realize the multi-chain transfer of tokens. [6]
When a user initiates a token multi-chain transfer, multiple authorization signatures are required to perform the transfer operation, thereby reducing the risk of assets being stolen during the transfer process. Taproot exchange monitors the status of each multi-chain transfer by listening to the nodes on the chain so that each transfer is under the control of the platform to ensure the safety of user assets. [6]
Taproot Exchange
Commit Info
Feedback
Average Rating
How was your experience?
Give this wiki a quick rating to let us know!
Twitter Timeline
Loading
Media
![related media](https://iq.wiki/cdn-cgi/image/width=384,format=auto,quality=95/https://i3.ytimg.com/vi/NkwuAqXJVPg/maxresdefault.jpg)
REFERENCES
[1]
[2]
[3]
[4]
[5]
[6]