Home » Cryptocurrency News » Cryptocurrency News » Taproot Activation Timeline Set, But Path Unclear Taproot Activation Timeline Set, But Path Unclear February 18, 2021 0 Comments
Earlier this week, Bitcoin’s development community met via Internet Relay Chat (IRC) to discuss Taproot activation paths and lay out an expected timeline for the privacy and smart contract flexibility upgrade.This was the second such activation meeting held through IRC.
Though a tentative timeline was set, the meeting ultimately left the group divided on a main issue: How exactly to coordinate the upgrade.
According to an expected timeline posted after the meeting on Bitcoin Wiki, Taproot could be activated by August 2022: March 17 to 31, 2021: Full node software released with Taproot activation deployment July 23, 2021: Economic majority has upgraded.Miner signalling begins to indicate preparedness to protect the economic minority who haven’t upgraded yet.Two weeks after 90 percent of the Bitcoin network’s hash rate signals support: Taproot activates.Economic majority enforces, while miners protect the economic minority until they upgrade as well.
August 1, 2022: Entire economy has upgraded
“There were two primary topics of conversation, the timeline and what to do if Taproot does not meet activation requirements,” Ben Carman, a Bitcoin developer at Suredbits, told Bitcoin Magazine .Carman said that the room was divided on whether or not to proceed with a user-activated soft fork (UASF) if requirements are not met.“After Core devs have experienced backlash and drama in the past few years, it seems they want to do the less controversial thing and not force the upgrade with a default UASF.”
Taproot is the biggest update to Bitcoin since SegWit back in 2017, and with it comes many potential benefits.
To date, there has not been much criticism to the proposal and, according to taprootactivation.com, miners contributing 88.69 percent of network hash rate have indicated support for the upgrade.
It appears that we could see Taproot activated as soon as this summer, but it’s likely that critics will come out from the shadows before that begins.
The post Taproot Activation Timeline Set, But Path Unclear appeared first on Bitcoin Magazine.Share this: Interview: Protecting Our Savings In Bitcoin With Indian Hodl Listen To This Episode: AppleSpotifyLibsyn For this episode of Bitcoin Magazine’s “Meet The Taco Plebs,” I was joined by fellow pleb Indian Hodl (@Indian_hodl) for his first-ever podcast appearance.This touching discussion started off with his rabbit hole story, hearing about bitcoin from an event in the U.K.Hospitals in the U.K.
were getting attacked… Op Ed: Lightning Network Consensus Is a Marketplace and That’s Okay! To Bitcoin or Not to Bitcoin During the “scaling debate” before the SegWit2X user-activated soft fork (UASF), Bitcoin businesses were getting their first bitter taste of Bitcoin’s censorship resistance.They wanted change to be easier.They wanted their influence to be effective.
They wanted to take shortcuts.
Unfortunately for them, Bitcoin was created to resist… BtcTurk Inks Sponsorship Deal With Yeni Malatyaspor BtcTurk, one of the most popular cryptocurrency exchanges in Turkey, has signed a sponsorship deal with Yeni Malatyaspor, a football club competing in the country’s football league, the Süper Lig.The news was first announced in a Medium blog post, where the exchange praised the deal as the first of its kind in the country.… Tether Will Soon Allow Direct Redemption of USDT — But With a High Minimum Tether is launching a new liquidity portal, one that will finally allow the direct redemption of Tether’s stablecoin USDT back into fiat.
According to a new report released on the company’s website, Tether is going to “launch a redesigned platform allowing for the verification of new customers and direct redemption of Tether to fiat.” One… One Day After the Bitcoin Cash Hard Fork: Takeaways and Latest Developments Bitcoin Cash, the “big block” project that forked away from the Bitcoin blockchain in August 2017, “hard forked” (split) into two different coins: “Bitcoin Cash ABC” (BCH ABC) and “Bitcoin Cash SV” (BCH SV).At the time of writing, the Bitcoin Cash ABC chain has more accumulated proof of work, and its native currency, BCH… Unchained Capital Unveils New Ways For Businesses To Custody BTC Unchained Capital, an Austin-based financial services firm, has announced its new enterprise-grade self-custody offering, aptly named “Business Accounts for Bitcoin.” The underlying principle of this new offering is “collaborative custody,” for which Unchained’s goal is to focus on simple workflows for funds, businesses and B2B2C providers to manage private keys.Common alternative solutions for managing… Venezuelan Central Bank Considers Adding Bitcoin to Balance Sheets Despite operating its own largely unsuccessful, state-backed cryptocurrency, the petro, the central bank of the Bolivarian Republic of Venezuela is also considering adding bitcoin to its balance sheets, giving state institutions the ability to settle payments in cryptocurrencies.
Cryptocurrency mining has been especially popular in Venezuela for several years, due to factors such as the… Op Ed: Three Things to Watch for in Upcoming IRS Cryptocurrency Guidelines For the first time in more than five years, the IRS plans to release further cryptocurrency tax guidelines, according to Commissioner Charles P.Rettig.This guidance comes at the urging of tax professionals and consumers as the crypto and blockchain ecosystem has rapidly evolved in recent years.
According to Rettig, the IRS is working on… Bitfury Acquires Minority Stake in Final Frontier, Aims To Expand Services The Bitfury Group has acquired a minority stake in blockchain services firm Final Frontier.Both organizations are looking to utilize each other’s knowledge and experience in the traditional and digital finance spaces to potentially release a new line of financial products and services designed to assist professional investors in getting their hands on digital assets.… Leave a Reply You must be logged in to post a comment.Search.