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Taproot update is already supported by ten major mining pools

18.05.2021 |

On May 2nd of this year started voting process for the network update of the first cryptocurrency Taproot. At that time, only SlushPool expressed its explicit support. Now it’s known about inclusion of signal record in blocks from holders of 78% of all bitcoin network capacities. At the same time, eight of the ten largest associations of miners have already supported the initiative. Thus, 12% of votes are left to launch the upgrade process itself.

The process itself of updating the network to the Taproot version will take place in two stages. Until August 11, 90% of miners must declare their support for the update by including a special signal record in the mined blocks, after that the transition period will begin, which will end in November this year.

If the required number of votes is obtained, it will be possible to talk about the beginning of a new era in the development of digital gold and cryptocurrencies in general. Scalability, interchangeability, increased security - this is just a partial list of innovations that can improve bitcoin in accordance with the demands of time and the users of the first cryptocurrency.