Activation Date Set for Bitcoin’s Taproot Upgrade
The code for Bitcoin’s Taproot upgrade will be deployed between March 17 and March 3, or even April if needed, as per a public Internet Relay Chat (IRC) discussion. However, the actual signaling will initiate the activation process that won’t start until July. Meanwhile, developers and other stakeholders are still discussing the best ways to handle Bitcoin’s biggest upgrade since SegWit.
Activation Details Still Not Finalized for Taproot Upgrade
As per the Bitcoin Taproot activation proposal, Bitcoin’s economic majority, including miners and node operators running the Bitcoin code could update within two weeks of the signaling period’s start.
Even if the mining pools indicate 90% of Bitcoin’s hash rate support Taproot before the timeout-height then the vast majority of support would signify that the Taproot upgrade was a success.
However, there could be a possibility that the mining pools don’t signal to activate Taproot. For instance, unlike a centralized network, where the central operators can choose for the upgrade, according to their feasibility. In comparison, Bitcoin’s network is decentralized. Hence, upgrades will require deliberate discussions among Bitcoin’s stakeholders such as developers, miners, business, and power users.
For activating Taproot, node operators do have an option to force activate the upgrade if a majority of miners fail to support before the timeout. This would allow node operators to reject blocks from miners who don’t support the upgrade.
