It is now inevitable, next November 2021 Bitcoin will experience a revolution
June 17, 2021 6:11 AM
After the event of the adoption of Bitcoin (BTC) as legal tender in El Salvador, it is another big news for the invention of Satoshi Nakamoto which fell this weekend: the improvements of the protocol of Bitcoin ( BIP) from Taproot have received approval from over 90% of miners.
Indeed, since May 1, miners participating in the Proof of Work (PoW) consensus could update the client of their Bitcoin nodes, in order to send a *** "bit signal" ***, which announced their desire to integrate the Taproot soft fork.
This required - during a period of difficulty (about 15 days) - that a large majority (90%) of the miners send this signal, which then resulted in a green square on the taproot.watch site.
A hesitation that won't last long
If the start was tough enough, it was only a matter of time. Because on June 12, 2021, enough transaction blocks validated the famous signal for Taproot.
As reported by the @pourteaux Twitter account, it was at block 687285 that the Slush Pool mining pool sent the last signal allowing the validation of this new fork.
Since Segregated Witness (SegWit) in 2017, this is the first major update to Bitcoin's code. Its implementation is now scheduled at block 709 632, which should arrive around mid-November 2021.
This set of enhancements, including in particular the Schnorr signature algorithm, will increase the privacy, scalability and flexibility of the BTC network. Even if its number of units of account is fixed (21 million BTC), Bitcoin also knows how to evolve to offer an ever more complete and sophisticated network to its users. The best part is that this latest development has been validated following a large decentralized consensus.