Taproot’s approval was not met during the current Bitcoin mining difficulty cycle. However, more and more miners are signaling in favor of activating this update.
Current data from taproot.watch shows an approval potential of 97% of the miners on the Bitcoin network. In fact, the averages reflected by the website for a period of 144 mined blocks they remain above 90% during the last two days.
However, the current signaling behavior is insufficient to approve Taproot in this 2,016 block period, because early in the cycle more than 201 blocks were completed without positive signaling. Taproot is an update to the way of transmitting transactions in Bitcoin that aims at better privacy and efficiency, with majority support in the bitcoiner community.
The consensus mechanism established to define the approval of Taproot is that of a Speedy Trial (ST) that seeks to determine if the miners are ready for the activation of Taproot. The process consists of the signaling of blocks by the miners of the network, depending on each period of Bitcoin mining difficulty.
Every 2016 blocks, Bitcoin updates the mining difficulty. In a period, the passing signaling of at least 1,815 blocks is needed (90% within the difficulty cycle). In total, 6 periods of difficulty have been established for the Taproot signaling, starting from May 1.
The percentage of blocks signaling to Taproot has remained over 90% in recent days. Source: taproot.watch.
Both in that first period and in the current one, the approval failed due to insufficient signaling of blocks, as reported by CriptoNoticias. For the next cycle of difficulty, there are about 400 blocks to be mined, which means that the difficulty adjustment is expected in approximately three days, when a new attempt to approve Taproot would begin.
There is consensus, but the blocks to approve Taproot are missing
Although there seems to be consensus among mining groups right now, that does not guarantee future approval of Taproot. Each block must contain the affirmative signaling individually, so even if all miner pools were positively targeting the update, it would not pass without their voicing it in most mined blocks.
Among the main Bitcoin mining pools, there are many who have positively signaled the update in just a minority of the blocks they have mined in this period. This situation shows that not all the pool servers are properly updated and therefore the consensus has not yet been confirmed.
For example, BTC.com, one of the main pools according to its computing power, has barely signaled in favor of Taproot in a third of the 153 blocks it has mined in this cycle.
If the number of blocks needed to approve Taproot is reached, this update will not reach Bitcoin immediately. The approval to activate it will only be effective in mid-November of this year.