Schnorr signatures and Taproot are proposed changes to the Bitcoin protocol that promise greatly improved privacy, fungibility, scalability and functionality. At its core, Simplicity consists of nine primitive operators called combinators whose semantics are formally specified. Behind the scenes, the Bitcoin network is sharing a massive public ledger called the "block chain". Thanks to Ledger for youtu.be hosting the workshop and helping with organization. If you have any requests or suggestions for future workshop events, please contact us. By a first approximation, suppose we use on-demand money, M1, for the fiat-bitcoin comparison and further assume they will have the same velocity. Your first step is to consider your expectations for the portfolio. The first transaction signals that someone is attempting to spend the money and gives the user a chance to block the second transaction that completes the spend.
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