Bitcoin’s upcoming Taproot upgrade and why it matters for the network
The upcoming Taproot activation stands to potentially make the Bitcoin ecosystem more user-friendly as well as secure. While a vast majority of crypto enthusiasts around the globe seem to be gushing about Ether (ETH) at the moment and how its upcoming London hard fork stands to push the premier altcoin’s value even higher, reports have recently surfaced that suggest Bitcoin’s much-awaited Taproot upgrade will go live also sometime by the end of this year.In this regard, many Bitcoin (BTC) mining pools seem to already be signaling their support for the activation and as per data available....
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Bitcoin underwent a major network update, the Taproot Upgrade, on 04:10 UTC on Nov. 14. This is the first major upgrade that the network went through since the Segregated Witness (SegWit). The SegWit upgrade eventually resulted in the development and launch of the Lightning Network in 2018. The Taproot upgrade was originally proposed by Bitcoin […]
In mid-June, the ‘Speedy Trial’ lock-in period for the Bitcoin network upgrade Taproot locked in at block height 687,285 and was mined by the bitcoin mining pool Slushpool. Taproot is expected to activate on the network on Sunday, November 14, 2021, and the upgrade is considered one of the largest changes the protocol has seen since Segregated Witness (Segwit) went live in 2017.
Bitcoin Upgrade Taproot Expected to Activate on Sunday
Taproot is expected to activate and go live on the main network on Sunday, November 14, 2021, following the lock-in period this past....
Bitcoin advocates are celebrating the successful implementation of the Taproot upgrade after block height 709,632. The upgrade was highly anticipated as it was one of the biggest changes since the introduction of Segregated Witness (Segwit) in 2017. After the upgrade was completed, the Bitcoin community discussed the slew of benefits Taproot and Schnorr signatures have to offer and have started measuring Taproot usage as well.
Taproot Has Been Activated on the Bitcoin Blockchain
At 12:15 a.m. (EST) at block height 709,632, at difficulty period 352, Taproot was officially....
The ‘Speedy Trial’ lock-in period for the Bitcoin network upgrade Taproot is now complete. Data from taproot.watch details the lock-in has been achieved and it was locked in at block height 687,285 and mined by the mining pool Slushpool. Bitcoin Taproot Lock-in Complete at Block Height 687,285 Taproot is coming this November as the web portal taproot.watch indicates that the lock-in period of signaling has finished. “This period has reached 1815 Taproot signaling blocks, which is required for lock-in.” The Taproot upgrade is considered one of the largest upgrades....
This upgrade focuses on the expansion of the Bitcoin network’s smart contract capabilities and improves privacy on the network. Bitcoin is set to undergo a major network upgrade, Taproot, in nearly two days, i.e., on Nov. 14 or 255 blocks later, as per data from Taproot.watch. This is the first significant upgrade since the Segregated Witness (SegWit), which eventually culminated in the development and launch of the Lightning Network in 2018. The original Taproot proposal was made by Bitcoin core contributor and former Blockstream chief training officer Gregory Maxwell on Jan 23,....