In Bitcoin, the Taproot activation process has officially started: What's next?

The process for #Taproot #activation, the biggest update to #Bitcoin since #SegWit in 2017, has been officially launched. As planned earlier, the Taproot code is ready to be activated via the "Quick Trial" as of May 1st.

The Quick Trial is a three-month trial period to see if miners with at least 90 percent of Bitcoin's hash rates will show their support for the upgrade. will be locked. After that, the Taproot rules will be officially applied for a period of 3 months and the activation will take place in November. The miners have conveyed their prior support for this upgrade and it is thought that there will be no problems in reaching the 90 percent threshold.

The Taproot update will reduce the amount of data transferred and stored on the Bitcoin blockchain. The transaction fee will drop slightly, and more transactions will fit in one block. This will increase the transaction capacity per second. Taproot was an awaited technology development for several years.