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Almost half of Bitcoin hash rate signaling for Taproot activation

May 4, 2021. Summarized by summa-bot.

Compression ratio: 47.2%. 1 min read.

Major Bitcoin mining pools have begun adding Taproot activation "signal bits" to their blocks paving the way for a possible network upgrade come November.

The road to the Taproot upgrade finally coming in 2021 is already underway, with major Bitcoin (BTC) mining pools already signaling support.

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.

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).

The “no votes” by these miners, which account for 19% of the 2,016 blocks in the current difficulty window, means that the Taproot activation cannot be locked in until at least the next difficulty epoch.

However, given the reported support by miners for Taproot, the activation — touted to be the most significant for Bitcoin in over four years — is expected to proceed without as much controversy as the Segregated Witness saga of 2016 and 2017.

by summa-bot

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