The top 10 Bitcoin mining pools by hash rate distribution are currently showing signs of Taproot activation. Specifically, 90% of the Bitcoin hash rate has signaled a short time for a protocol upgrade with a figure currently around 73%.
Almost all major Bitcoin mining pools are now signaling Taproot activation
On Twitter, Binance also announced that Binance Pool has started signaling for Taproot. According to Twitter Taproot Signal, Binance Pool’s first Taproot signal occurred at block height 683,878.
The two largest Bitcoin mining pools – AntPool and F2Pool – are among the earliest advocates of protocol upgrades in the mining sector. SlushPool – the 12th largest pool by hash rate distribution – was the first to mine the first transaction block that broadcast the Taproot signal.
BTC. Top, the last of the top 10 pools to signal Taproot, also signaled at the block height of 683,945. The mining pool previously announced that they had completed the experimental protocols needed to start including Taproot triggering signals in mined transaction blocks.
According to data from Taproot.watch, there have been multiple occasions where at least 10 consecutive blocks have signaled Taproot during the current difficult times.
However, with 190 blocks not signaling so far, triggering Taproot locked in this current difficulty window seems unlikely. The protocol upgrade can only proceed if 90% of the 2,016 blocks are mined. At 190 blocks, non-signaling blocks are now over 9%. At 202 non-signaling blocks, the Taproot lock threshold request will be pushed to the next difficulty adjustment in about 11 days.
Taproot activation must be locked by August 11th for the network upgrade to happen in November. If that happens, it’s arguably the most notable protocol-level improvement of the past four years for Bitcoin. The Taproot upgrade will essentially mask the spending conditions set by the trading parties, a feature touted as having important implications for both privacy and the Bitcoin protocol’s smart contracts.
Source: AZCoin News
