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Bitcoin Upgrade Gets Enough Mining Support to Activate: CoinDesk

Bitcoin’s Taproot upgrade, the most anticipated upgrade for the largest cryptocurrency since 2017, has enough mining support to lock in activation, according to CoinDesk.

  • At least 90% of the blocks mined in any of the designated two-week difficulty periods needed to “signal” their support for the upgrade for the activation process to begin, CoinDesk said.
  • Taproot will likely have locked in with more than 99% of blocks signaling decisively in its favor by the time the difficulty period ends Sunday: CoinDesk.
  • Taproot will adjust the Bitcoin code in a way that introduces new possibilities for privacy, multisignature wallets and security, and scaling, CoinDesk said.
  • Over time, Taproot’s tooling and coding improvements will lead to a better Bitcoin user experience in terms of overall performance, and offer privacy improvements to multisignature technology, privacy software and scaling technology such as the Lightning Network, CoinDesk said.

Source: Bloomberg