Binance Pool announced support for the Taproot update on the first cryptocurrency network. According to Taproot Watch, this was the only pool in the top 10 that did not express a position.
Based on community feedback, #Binance Pool has begun signaling for Taproot.
It is estimated that #Binance Pool will fully support Taproot before Friday this week. https://t.co/eukp3FlEA8
– Binance (@binance) May 17, 2021
According to BTC.com, the Binance Pool has a computing power of 13.47 PH / s at the time of writing. According to this indicator, it was ranked sixth with a share of 8%.
As of May 17, out of 21 mining pools monitored by Taproot Watch, the update was not supported by Rawpool, OKExPool, WAYI.CN, ArkPool, BTCPool, TMSPool, OKKONG, Sigmapool.com and an unknown group – together they had 4.43% of the hashrate.
According to the service, during the current era of difficulty, several episodes were recorded when a series of at least ten consecutive blocks with support signals passed.
The update mechanism implies a three-month window until August 11th. During this period, in any one of the approximately two-week periods between difficulty recalculations, 90% of the mined blocks should contain the corresponding signal. In this case, Taproot will be implemented in November 2021.
The update will be one of the most important in the history of the first cryptocurrency. In addition to increasing scalability and privacy, it is focused on improving network functionality and coin interchangeability.
In mid-October 2020, Taproot, along with Tapscript technology and Schnorr signatures, was included in the Bitcoin Core source code.
The first is a special data called “signal bit” [signal bit] added SlushPool to the mined blocks.
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