BTC's Taproot Activation Process Initiated!

It has been announced that the process has been officially launched for Taproot activation, one of the biggest updates of Bitcoin.

BTC's Taproot activation process was initiated. Known as the biggest update to Bitcoin since SegWit in 2017, the process for Taproot activation has been officially launched. As previously planned, starting May 1st, the Taproot code is ready to be activated via "Quick Trial". The Quick Trial is known as a three-month trial period to see if miners who hold at least 90 percent of Bitcoin's hash rates will show their support for the upgrade. If support at this rate is provided, the Quick Trial will be successful and the update will be locked for 3 months after the initial signal has been given. After that, the Taproot rules will be officially implemented for a period of 3 months and activation will be made in November. Miners had already expressed their support for the upgrade in question. For this reason, it is thought that there will be no problems in reaching the 90 percent limit. The Taproot update will significantly reduce the amount of data transferred and stored on the Bitcoin blockchain. There will be a slight decrease in the transaction fee, and more transactions will fit into one block. This will increase the transaction capacity per second. Taproot was an update expected for several years.