Bitcoin mining pools representing over 54% of the networkâ€™s current hashrate have signaled support for the scaling and privacy protocol upgrade Taproot, merged into Bitcoin Core last month.
Bitmainâ€™s Antpool backed the protocol upgrade Thursday morning in a message sent to Poolin, the pool told CoinDesk, joining five other pools in Poolinâ€™s Taproot Activation initiative and pushing the percentage of hashrate in support of the upgrade over 50%. Antpool plans to publicly express its support in a forthcoming blockâ€™s coinbase.
Poolinâ€™s vice president, Alejandro De La Torre, told CoinDesk he is â€œbeyond happyâ€ that most major mining pools have responded affirmatively to their â€œconsensus-built effortâ€ to support Taproot.
Notably, Binance Pool is the only top-five pool to not yet support Taproot.
Taproot aims to improve transaction privacy and enhance Bitcoinâ€™s smart contract functionality. As an added bonus, itâ€™s also designed to keep Bitcoinâ€™s blocks small, with block space as accessible as possible.
â€œThe only uncertainty with Taproot is when and how it will be activated,â€ said Daniel Frumkin, engineer and technical writer at Slush Pool, in a direct message with CoinDesk.
â€œIn the end it should be a straightforward process with minimal drama,â€ he added, noting that Taproot is â€œnot controversial.â€Â Frumkin contrasted this proposed upgrade with the heated industry-wide disagreements caused by the 2017 SegWit2X proposal, which many miners also supported.Â
Seeing any miners opposing the Taproot upgrade would be a shock to Frumkin. â€œIâ€™d expect the rest of the major pools to signal support in the following weeks,â€ he said.