{"id":8173,"date":"2021-06-12T19:54:08","date_gmt":"2021-06-12T19:54:08","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/taproot-lock-in-achieved-bitcoin-network-set-to-activate-biggest-upgrade-in-four-years\/"},"modified":"2021-06-12T19:54:08","modified_gmt":"2021-06-12T19:54:08","slug":"taproot-lock-in-achieved-bitcoin-network-set-to-activate-biggest-upgrade-in-four-years","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/taproot-lock-in-achieved-bitcoin-network-set-to-activate-biggest-upgrade-in-four-years\/","title":{"rendered":"Taproot Lock-in Achieved \u2014 Bitcoin Network Set to Activate Biggest Upgrade in Four Years"},"content":{"rendered":"

The \u2018Speedy Trial\u2019 lock-in period for the Bitcoin network upgrade Taproot is now complete. Data from taproot.watch details the lock-in has been achieved and it was locked in at block height 687,285 and mined by the mining pool Slushpool.<\/strong><\/p>\n

Bitcoin Taproot Lock-in Complete at Block Height 687,285<\/h2>\n

Taproot is coming this November as the web portal taproot.watch<\/a> indicates that the lock-in period of signaling has finished. \u201cThis period has reached 1815 Taproot signaling blocks, which is required for lock-in.\u201d
\nThe Taproot upgrade is considered<\/a> one of the largest upgrades in four years since the activation of Segregated Witness (Segwit) back in 2017.
\nPoolin executive Alejandro De La Torre tweeted about the milestone after the signaling finished. \u201cTaproot has locked-in,\u201d De La Torre said<\/a>. \u201cExcellent work miners. Congratulations bitcoiners. Bitcoin protocol upgrade now set to activate in November.<\/p>\n

When activated in November, Taproot addresses will be able to leverage Schnorr signatures in contrast to Bitcoin\u2019s current elliptic curve digital signature algorithm (ECDSA). Because Schnorr signatures are more compact than ECDSA it could improve scaling.
\nOther features besides the bump in scaling expected from Taproot activation include more complex BTC<\/a> smart contracts and decision-based transactions. Alongside this, it\u2019s been said that Taproot and Schnorr signatures <\/a>will also allow for more privacy when transacting.
\nTaproot enhancements also include the ability for BTC<\/a> participants to utilize Merkle trees<\/a>.<\/p>\n

<\/p>\n

Bitcoin Core versions 0.21.1<\/a> and versions above this release will be able to upgrade to Taproot in November. There will be roughly five months for miners and other node operators who want to transition to Taproot.
\nTaproot, however, is a soft fork which means similar to Segwit, network participants do not necessarily have to upgrade to the new ruleset.
\nThe founder of the 13exchange, Nikita Vassev, was pleased with the lock-in completion and tweeted about the landmark occasion on Twitter. \u201cThere was a tremendous amount of work done on activation,\u201d Vassev wrote on Friday. \u201cI was impressed with how the pools joined in, and it is our common achievement.\u201d<\/p>\n

What do you think about the Bitcoin protocol upgrading to Taproot this November? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nNews, 2016 Blocks, activation, Andreas Antonopoulos, Bitcoin, Bitcoin (BTC), Blixt wallet, BTC miners, Hampus Sj\u00f6berg, Jimmy Song, Miners, Miners Activate, Schnorr Signatures, Signaling Period, Soft Fork, Speedy Trial, Taproot, Taproot activation, Taproot lock-in, Taproot upgrade, taproot.watch, technology, Upgrade<\/p>\n","protected":false},"excerpt":{"rendered":"

The \u2018Speedy Trial\u2019 lock-in period for the Bitcoin network upgrade Taproot is now complete. Data from taproot.watch details the lock-in has been achieved and it was locked in at block height 687,285 and mined by the mining pool Slushpool. Bitcoin Taproot Lock-in Complete at Block Height 687,285 Taproot is coming this November as the web…<\/p>\n","protected":false},"author":0,"featured_media":8174,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-8173","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8173"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=8173"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/8173\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/8174"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=8173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=8173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=8173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}