[Analysis] The Schnorr signature & Taproot softfork proposal

BitMEX Research recently reviewed the Schnorr signature and Taproot Bitcoin ($BTC) softfork proposals, finding little downside if any at all. Schnorr signatures would replace the original signature scheme implemented by Satoshi, the Elliptic Curve Digital Signature Algorithm (ECDSA), a replacement that would make all Bitcoin transactions appear homogenous on the Bitcoin blockchain. BitMEX roughly estimates adoption of Schnorr signatures would also increase effective network capacity by 13.1%. MAST and Taproot upgrades are focused on transaction privacy through masked spending conditions. BitMEX argues that the softforks can hardly be called contentious due to the obvious scalability and privacy upgrades.