-* Taproot's advantages become apparent under the assumption that most applications involve outputs that could be spent by all parties agreeing. That's where '''Schnorr''' signatures come in, as they permit [https://eprint.iacr.org/2018/068 key aggregation]: a public key can be constructed from multiple participant public keys, and which requires cooperation between all participants to sign for. Such multi-party public keys and signatures are indistinguishable from their single-party equivalents. This means that the all-parties-agree case can be handled using the key-based spending path, which is efficient and (under the Taproot assumption) private using taproot. This can be generalized to arbitrary M-of-N policies, as Schnorr signatures support threshold signing, at the cost of more complex setup protocols.
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