BIP 341 — Taproot: SegWit version 1 spending rules

BIP 341 (Taproot: SegWit version 1 spending rules) defines SegWit v1 outputs that commit to an internal public key and optionally a Merkle tree of scripts. Spending uses either the key path (a single Schnorr signature, revealing nothing else) or a script path (revealing only the executed script plus a Merkle proof). It activated on 2021-11-14 at block 709,632. Repository status: Deployed.

Debate relevance: Cited constantly: privacy claims ('all Taproot spends look alike'), the inscriptions controversy (inscriptions embed data in Taproot script-path witnesses), and as the template for how future soft forks might deploy. Common misstatements: "Taproot made everything private" — only key-path spends are uniform; script-path spends reveal the executed script. "Taproot introduced arbitrary data storage to Bitcoin" — data embedding long predates it; Taproot's script rules changed the cost and limits profile that inscriptions later used. "Taproot activated via BIP 8" — the deployment used Speedy Trial.