Binance Pool announced support for the Taproot update on the network of the first cryptocurrency. According to Taproot Watch, it wasthe only pool from the top 10 that did not express a position.
Based on community feedback, #Binance Pool has begun signaling for Taproot.
It is estimated that #Binance Pool will fully support Taproot before Friday this week. https://t.co/eukp3FlEA8
— Binance (@binance) May 17, 2021
According to BTC.com, at the time of writing, the Binance Pool has a computing power of 13.47 PH / s. According to this indicator, it was ranked sixth with a share of 8%.
As of May 17, out of 21 tracked by Taproot Watchmining pools were not supported by Rawpool, OKExPool, WAYI.CN, ArkPool, BTCPool, TMSPool, OKKONG, Sigmapool.com and an unknown group - together they had 4.43% of the hash rate.
According to the service, during the current era of difficulty, several episodes were recorded when a series of at least ten consecutive blocks with support signals passed.
The renewal mechanism implies a three-monthwindow until August 11th. During this period, in any one of the approximately two-week periods between difficulty recalculations, 90% of the mined blocks should contain the corresponding signal. In this case, Taproot will be implemented in November 2021.
The update will be one of the most important in the entirehistory of the first cryptocurrency. In addition to increasing scalability and privacy, it is focused on improving network functionality and coin interchangeability.
In mid-October 2020, Taproot, along with Tapscript technology and Schnorr signatures, was included in the Bitcoin Core source code.
The first special data called the "signal bit" was added to the extracted SlushPool blocks.
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