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26 November 2020

Support for Bitcoin’s Taproot Upgrade Surges to 45% - Decrypt

Support for Bitcoin’s Taproot Upgrade Surges to 45% - Decrypt


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F2Pool, the largest Bitcoin mining pool—that currently providesaround 17%of the blockchain’s total hash power—has been listed on the “Taproot-Activation” website, signaling its support for Bitcoin’s protocol upgrade proposal Taproot.

Taproot is a protocol upgrade proposal originally developed by well-known Bitcoin contributors Greg Maxwell, Peter Wuille and Andrew Poelstra.

Apart from privacy benefits (other users won’t ever know what the conditions were), this will reduce the computational load on the blockchain, allowing developers to write more complex scripts with minimized on-chain impact.

As Decrypt reported, the Schnorr and Taproot proposals were implemented in Bitcoin Core on October 15—but not yet activated

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