The ten largest Bitcoin mining pools have signaled in favor of activating Taproot. In general, the update was supported by pools that control over 87% of the network hashrate. To activate, it remains to collect only 3%.
The vote to deploy Taproot, the largest Bitcoin update in years, continues. All ten largest Bitcoin mining pools have expressed support for the upgrade. Preparations for activating Taproot began as planned on May 5th.
Mining pools, representing about 46% of the network hashrate, immediately expressed support for the upgrade, and by mid-day on May 17, support had reached 87.4%. Taproot activation will only occur if 90% of all mined blocks turn on the activation signal in the difficulty adjustment window. Thus, Taproot supporters are left with less than 3% of the hash rate.
Binance Exchange Monday statedthat Binance Pool started supporting Taproot. The first signal for Taproot on Binance Pool occurred at block height 683 878. BTC.Top also started signaling Taproot activation at block height today 683 945… The pool team previously stated that they have completed the test protocols required to begin incorporating Taproot activation signals into mined transaction blocks.
The two largest pools, AntPool and F2Pool, were some of the earliest proponents of a protocol upgrade among miners. SlushPool is the 12th largest pool in terms of hash rate, the first to mine a transaction block with a Taproot signal. According to Taproot.watch, in the current era of difficulty, there have been at least ten consecutive blocks with Taproot signals several times.
However, with 190 blocks without Taproot activation signals, committing an update to activate during the current difficulty window seems unlikely. With 190 blocks, the number of blocks without a signal exceeds 9%. With 202 blocks without a signal, the Taproot Lock Threshold will be carried over to the period following the next difficulty adjustment in approximately 11 days.
Taproot must be committed to the update by August 11 for the update to roll out in November.
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