Bitcoin’s most anticipated Taproot upgrade gets 90% mandate

The most significant improvement to Bitcoin’s protocol in years now has enough mining support to lock in activation.

Bitcoin’s most anticipated Taproot upgrade gets 90% mandate

According to the parameters set forward by Speedy Trial, if at least 90% of the blocks mined in any of the designated 2-week difficulty periods signal their support for the upgrade, then the activation process can begin. 

Precisely, 1,815 out of 2,016 blocks mined within a period have to include a little piece of encoded information that indicates that the miner who mined that block is in favor of the upgrade.

During this second difficulty period, at block 687284, that benchmark was met. By the time that the difficulty period ends on Sunday, it is likely that Taproot will have locked in with over 99% of blocks signaling decisively in its favor.

Taproot is Bitcoin’s most anticipated upgrade since Segregated Witness (SegWit) in 2017. 

The main focus of SegWit was scaling the Bitcoin protocol, Taproot will outfit Bitcoin with a new signature scheme known as Schnorr signatures. This small adjustment to the Bitcoin code opens up new possibilities for privacy, multi-signature wallet security, and scaling.

Now that the threshold has been met, the end of this difficult period on Sunday will mark the completion of the first phase of Speedy Trial.

Speedy Trial is the process that the Bitcoin’s developer community and stakeholders agreed to use to determine if there was enough support from the miners to go ahead with the Taproot soft fork. For months, even once it was clear that there was widespread support for the upgrade. However, there was still debate as to how it would be implemented.

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