Taproot upgrade backed by 98% of miners

Activation of the Taproot upgrade in the network of the first cryptocurrency was backed by 98% of Bitcoin mining pools. This is indicated by data from the service Taproot Watch.

Developers implemented it in the Bitcoin Core 0.2.1.1 release, which occurred on May 2.

SlushPool was the first to approve the Taproot activation. As of writing, Mara Pool, ArkPool and unknown mining groups had not yet signaled their support for the update.

On May 31, Marathon Digital Holdings announced that it would update its devices to a relevant software version “within the coming weeks”.

The upgrade mechanism envisages that voting runs until 11 August 2021. During this period, in any of the roughly two-week intervals between difficulty recalculations, 90% of mined blocks must contain the signal bit.

According to the service, during the current difficulty epoch, 16.77% of blocks signaled Taproot deployment.

The upgrade will be one of the most significant in the history of the first cryptocurrency. However, some experts believe that it poses a potential threat to privacy.

Further information about Taproot can be found in ForkLog’s educational cards:

As reported, the activation of the update in the Bitcoin network began after the latest mining difficulty adjustment, which occurred on May 1. With sufficient miner support, it is expected to be deployed by November 2021.

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