{"id":31891,"date":"2020-11-17T13:58:23","date_gmt":"2020-11-17T11:58:23","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=31891"},"modified":"2025-08-28T05:56:47","modified_gmt":"2025-08-28T02:56:47","slug":"poolin-launches-portal-to-prepare-for-taproot-upgrade-on-the-bitcoin-network","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/poolin-launches-portal-to-prepare-for-taproot-upgrade-on-the-bitcoin-network\/","title":{"rendered":"Poolin launches portal to prepare for Taproot upgrade on the Bitcoin network"},"content":{"rendered":"<p>Holding 13% of Bitcoin&#8217;s hashrate, the mining pool Poolin unveiled a portal dedicated to the Taproot upgrade. It will serve as a forum among pools to devise a unified approach to activating the technology.<!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Poolin Launches Initiative To Activate Taproot, Encouraging Other Mining Pools To Join <a href=\\\"https:\/\/t.co\/wUuzYG0MFz\\\">https:\/\/t.co\/wUuzYG0MFz<\/a> via <a href=\\\"https:\/\/twitter.com\/BitcoinMagazine?ref_src=twsrc%5Etfw\\\">@bitcoinmagazine<\/a> <a href=\\\"https:\/\/twitter.com\/bit_kevin?ref_src=twsrc%5Etfw\\\">@bit_kevin<\/a> <a href=\\\"https:\/\/twitter.com\/bitentrepreneur?ref_src=twsrc%5Etfw\\\">@bitentrepreneur<\/a> <a href=\\\"https:\/\/twitter.com\/AaronvanW?ref_src=twsrc%5Etfw\\\">@AaronvanW<\/a><\/p>\n<p>\u2014 Poolin (@officialpoolin) <a href=\\\"https:\/\/twitter.com\/officialpoolin\/status\/1328442812367572992?ref_src=twsrc%5Etfw\\\">November 16, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Taproot, along with the Tapscript technology and Schnorr signatures, is included in the upcoming Bitcoin Core 0.21.0 release.<\/p>\n<p>If the Schnorr signature scheme offers a new type of signatures, Taproot expands their functionality \u2014 by combining cryptographic tricks, users can hide details of their financial activity behind outwardly ordinary Bitcoin transactions.<\/p>\n<blockquote class=\\\"wp-embedded-content\\\" data-secret=\\\"5ZcNXLczxj\\\">\n<p>Taproot is close, or the next step in Bitcoin&#8217;s evolution<\/p>\n<\/blockquote>\n<p><iframe loading=\\\"lazy\\\" class=\\\"wp-embedded-content\\\" sandbox=\\\"allow-scripts\\\" security=\\\"restricted\\\" style=\\\"position: absolute; visibility: hidden;\\\" title=\\\"\u201cTaproot is close, or the next step in Bitcoin's evolution\u201d \u2014 ForkLog\\\" src=\\\"https:\/\/forklog.com\/exclusive\/taproot-blizko-ili-sleduyushhaya-stupen-evolyutsii-bitkoina\/embed#?secret=WvCa1g3MFV#?secret=5ZcNXLczxj\\\" data-secret=\\\"5ZcNXLczxj\\\" width=\\\"500\\\" height=\\\"282\\\" frameborder=\\\"0\\\" marginwidth=\\\"0\\\" marginheight=\\\"0\\\" scrolling=\\\"no\\\"><\/iframe><\/p>\n<p>Poolin became the first pool to announce support for the forthcoming upgrade, tagging all blocks it mines with the corresponding label.<\/p>\n<p>Bitcoin Core 0.21.0 will include the Taproot code but will not contain logic for its activation. It is expected that Taproot activation, in the form of a soft fork or backward-compatible update, will proceed smoothly if the majority of miners support it.<\/p>\n<p>Previous soft forks were activated via a method called VersionBits (BIP9), which required 95% of miners signaling support for the protocol.<\/p>\n<p>After SegWit activation in 2017, some developers prefer BIP8. It opens up the possibility of forced activation after a fixed period.<\/p>\n<p>Miners also discuss smaller changes to the update mechanism. Some argue that the approval threshold should be lowered from 95%. Debates are ongoing about the activation window if BIP8 is chosen.<\/p>\n<p>Some proposals combine these ideas. The update could include a dedicated software fork to carry out this work. An example is BIP148, which acted as a catalyst for the SegWit activation in 2017.<\/p>\n<p>CEO Poolin Kevin Pan noted that he prefers Taproot activation via BIP9. However, he did not rule out the possibility of BIP8 with forced activation.<\/p>\n<blockquote>\n<p>\u201cUnlike SegWit, Taproot does not provoke such fierce debates, and BIP9 was successfully used even before SegWit. We prefer old-fashioned BIP9. But the community could also implement a user-activated soft fork BIP8,\u201d he explained.<\/p>\n<\/blockquote>\n<p>Pan believes that if BIP8 is chosen, a one-year period would be sufficient to prepare for its activation. He added that most developers will find consensus and will make \u201cthe right decision.\u201d<\/p>\n<p>As previously reported, Blockstream <a href=\"https:\/\/forklog.com\/en\/news\/blockstream-developers-unveil-new-multisignature-scheme\">introduced<\/a> a new multisignature scheme in light of the forthcoming Taproot activation.<\/p>\n<p>ForkLog <a href=\"https:\/\/forklog.com\/en\/news\/payment-pools-taproot-opens-bitcoins-next-layer\">wrote<\/a> that Taproot opens potential for creating new payment scenarios.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/vk.com\/forklogcom\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Holding 13% of Bitcoin&#8217;s hashrate, the mining pool Poolin unveiled a portal dedicated to the Taproot upgrade. It will serve as a forum among pools to devise a unified approach to activating the technology.<\/p>\n","protected":false},"author":1,"featured_media":31892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1137,1142,1927,1134],"class_list":["post-31891","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-mining","tag-cryptography","tag-poolin","tag-technical-updates"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/31891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=31891"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/31891\/revisions"}],"predecessor-version":[{"id":31893,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/31891\/revisions\/31893"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/31892"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=31891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=31891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=31891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}