Currently, all major Bitcoin mining pools are signaling for the taproot activation. However, though the most significant Bitcoin mining pools signify the Taproot activation, it may not reach the 90% critical consensus mark during this current difficulty epoch.
The top 10 Bitcoin mining pools by hash rate distribution have signaled Taproot activation, with BTC being the latest. However, 90% of the Bitcoins hash rate briefly signaled for the protocol upgrade. Thus, the new figure of hash rate currently stands at about 73%.
The Crypto exchange giant Binance tweeted on Monday, stating that the pool had begun signaling for Taproot. As per the taproot signal Twitter bot, the Binance pool’s maiden Taproot signal happened at a block height of 683,878.
Cointelegraph stated that the two most significant Bitcoin mining pools AntPool and F2Pool were among the earliest supporters of the protocol upgrade in the mining area. Slushpool is the twelfth largest pool by hash rate distribution. In addition, it was the first to mine the first transaction Block with a Taproot signal.
Taproot Activation Blocked
However, the Taproot activation is being locked with 190 non-signaling blocks so far. Therefore, the protocol upgrade can only move forward if 90% of these mined blocks in a complex epoch include an activation signal. Moreover, the non-signaling blocks are over 9% now.
The Taproot activation must be locked in before August 11th to upgrade the network before November. This Taproot upgrade will essentially mask all the spending conditions prescribed by the transcribing parties.