The Taproot upgrade has finally achieved the first significant milestone on the road to activation. Moreover, 90% of the Bitcoin mining hash rate signaled protocol improvement amid the current difficult epoch.
Hampus Sjoberg, a Bitcoin developer, created Taproot. Watch website. The website shows that the lock-in stage is completed. Though several recognized mining pools signaled for the upgrade Slush Pool became the first to do so.
AntPool and F2Pool
AntPool and F2Pool are the two top Bitcoin mining pools by hash rate. They also participated and were among the earliest supporters of the Taproot activation in the BTC mining arena.
Pieter Wuille is the core developer. He explained the activation steps for Taproot. According to BIP341, once locked in, the activation is automatic at block height 709632. They are expecting activation to happen around November 14, 2021.
He also explained the significance of Taproot. He said that it’s the first consensus change since the Segwit got activated in August 2017. For him, the activation in November is only the beginning, as the real work is building the software to leverage the benefits of the protocol improvement.
The Blockchain explorer shows 4,075 transactions in block height 687249. This record figure is almost twice the average transactions per block recorded on June 11. Moreover, it is four times the typical transaction count for Bitcoin blocks.