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 roll out 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 said Monday that Binance Pool has started supporting Taproot. The first Taproot signal on the Binance Pool occurred at block height 683 878. BTC.Top also started signaling Taproot activation at block height 683 945 today. The pool team previously stated that it had completed the testing protocols required to start incorporating Taproot activation signals into mined blocks. transactions.
The two largest pools, AntPool and F2Pool, were among the earliest proponents of a protocol upgrade among miners. SlushPool – 12th largest pool by hash rate, was 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%. At 202 blocks without a signal, the Taproot Lock Threshold will be carried over to the period after 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.
