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Taproot opens up new possibilities for privacy, multisignature wallets and security, as well as scaling.

Taproot, the most significant improvement to Bitcoin’s protocol in years, now has enough mining support to lock in activation.

According to the parameters set forward by “Speedy Trial,” if at least 90% of the blocks mined in any of the designated 2-week difficulty periods “signal” their support for the upgrade, then the activation process can begin. To be more precise: 1,815 out of 2,016 blocks mined within a period have to include a little piece of encoded information that indicates that the miner who mined that block is in favor of the upgrade.

During this second difficulty period, at block 687284, that benchmark was met. By the time that the difficulty period ends on Sunday, it is likely that Taproot will have locked in with over 99% of blocks signalling decisively in its favor.

A green block means that it signalled readiness for Taproot activation. A red block means that it did not. Transparent blocks represent upcoming blocks within this difficulty period. (Taproot.watch)
Speedy Trial and the long road to consensus

Taproot is Bitcoin’s most anticipated upgrade since Segregated Witness (SegWit) in 2017. Whereas the main focus of SegWit was scaling the Bitcoin protocol, Taproot will outfit Bitcoin with a new signature scheme known as Schnorr signatures. This small adjustment to the Bitcoin code opens up new possibilities for privacy, multisignature wallets and security, as well as scaling.

Read more: How Bitcoin’s Taproot Upgrade Will Improve Technology Across Bitcoin’s Software Stack
Now that the threshold has been met, the end of this difficulty period on Sunday will mark the completion of the first phase of Speedy Trial.
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