Binance Signals for Taproot, 95% of Bitcoin Mining Pools Now in Support


Leading cryptocurrency exchange Binance is the latest one to announce support for major Bitcoin upgrade Taproot.

“Based on community feedback, Binance Pool has begun signaling for Taproot,” announced the exchange on Monday.

The exchange ran a poll on Twitter about ten days back asking users “Should Binance Pool signal Taproot,” which received 78.2% of 28,150 votes in favor.

“It is estimated that Binance Pool will fully support Taproot before Friday this week,” added Binance.

With Binance’s support, nearly 95% of mining pools are now signaling for Taproot.

The current signaling period — which is the second one after the first one expired with the largest difficulty adjustment in seven years — of 2016 blocks has two weeks with 1466 Taproot blocks left, 64.39% until the soft fork is locked in, as per taproot.watch.

One of the biggest upgrades since Segregated Witness (SegWit) in 2017, Taproot is a soft fork to the largest network that will expand smart contract flexibility and bring enhanced privacy and scalability to Bitcoin.

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