The activation of the Taproot update in the network of the first cryptocurrency was supported by 98% of the Bitcoin mining pools. This is evidenced by data from the Taproot Watch service.
Miners supporting the update include special “signal bits” in the mined blocks [signal bit]… The developers implemented such a mechanism in the release of Bitcoin Core 0.2.1.1, which took place on May 2.
SlushPool was the first to approve Taproot activation. At the time of writing, Mara Pool, ArkPool and unknown groups of miners have not yet signaled in favor of the update.
On May 31, Marathon Digital Holdings announced that it will update its devices to the relevant software version “within the coming weeks.”
The update mechanism assumes that voting takes place before August 11, 2021. During this period, in any one of the approximately two-week periods between difficulty recalculations, 90% of the mined blocks should contain a signal bit.
According to the service, during the current “era of complexity” 16.77% of blocks signaled support for the deployment of Taproot.
The update will be one of the most important in the history of the first cryptocurrency. However, some experts believe it poses a potential privacy threat.
The activation of the update in the bitcoin network started after the next recalculation of the mining difficulty, which took place on May 1. With sufficient support from miners, it will be implemented as early as November 2021.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
