Bitcoin Taproot upgrade gets mining support

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.

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Bitcoin Taproot upgrade gets mining support