Almost Half of Bitcoin Hash Rate Signaling for Taproot Activation
Major support brewing behind Taproot activation
Almost half of Bitcoin hash rate signaling for Taproot activation
“The road to the Taproot upgrade finally coming in 2021 is already underway, with major Bitcoin (BTC) mining pools already signaling support.
According to data from Taproot.watch, a webpage created by Bitcoin developer Hampus Sjöberg, Taproot signaling now accounts for about 44% of the total Bitcoin hashing power as of the time of writing.
AntPool and F2Pool — the two largest Bitcoin mining pools by hash rate — are among the earliest supporters of the Taproot activation in the mining arena. Other pools in support are Foundry USA and Slush Pool, with the latter responsible for mining the first signaling block.
Based on Bitcoin’s consensus, Taproot activation will only go forward if 90% of all mined blocks include an activation signal within a difficulty adjustment window (2,016 blocks).
This consensus agreement must happen in one of the difficulty epochs between now and Aug. 11 to be locked in as a network upgrade for November. As previously reported by Cointelegraph, the current difficulty period began on May 1 after a 12% downward adjustment.”