Binance Controls the Only Major Pool Rejecting Bitcoin’s Taproot Update

2020-11-20 00:13

Bitcoin’s Taproot update looks set for activation, with over 56% of the hashrate now showing support. Taproot will upgrade Bitcoin’s smart contract capabilities, allowing users to send smart contracts disguised as regular transactions on the network.

Bitcoin users will soon be able to enter complex smart contract arrangements through BTC transactions. For example, funds can be sealed in a time-locked contract, to be distributed on a certain date, or if certain parties co-sign. Taproot also includes added features to protect the privacy of Bitcoin users.

Binance Is Holding Out

Binance Pool is a recent entrant to the Bitcoin space, announced in April of this year. The mining pool quickly shot to the big leagues, and today controls 12% of the hashrate as the fourth-largest pool in Bitcoin.

Out of the five major mining pools, Binance Pool is the only one to withhold support for Taproot. The last major update of this scale was SegWit. Adoption was an uphill battle, with disagreement among mining pools over whether the update should go ahead. However, with 56% support from miners and counting, Taproot looks to be in a far more secure position.

Speaking to Crypto Briefing, Bitcoin Magazine’s technical editor Aaron van Wirdum stated that the previous update of this scale, SegWit, was rejected for political reasons.

“Segwit itself wasn’t really controversial, but some miners were withholding their support in order to use this as political leverage. They failed. I don’t foresee these kinds of complications for Taproot activation.”

Whether Binance Pool is making a statement by withholding support or simply still evaluating the latest update is unclear. According to van Wirdum, Taproot will likely activate in the first half of 2021, whether Binance Pool supports it or not.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Rocket Pool (RPL) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $23.14
Капитализация $0 Rank 99999
Цена в час новости $ 3.3681 (-100%)

rejecting bitcoin taproot update pool major controls

rejecting bitcoin → Результатов: 46


Bitcoin’s Momentum Stalls, But Negative Funding Gives a Boost to Bulls

Bitcoin’s upwards momentum has stalled following the promising push higher seen yesterday This allowed the cryptocurrency’s price to surge up towards $10,800, which is where it met some serious resistance that slowed its uptrend Despite rejecting at this level, the subsequent downtrend has not been that intense, indicating that bulls may still have some underlying strength One analyst is noting that although BTC is beginning to look bearish, the fact that funding rates are still […]

2020-9-26 21:00


Bitcoin May Soon Push Higher After Taking Out Key Liquidity Levels

Bitcoin has witnessed some slight instability throughout the past few hours, with sellers rejecting BTC above its key resistance level at $10,500 The decline from its highs shows that this price remains a strong region of selling pressure The likelihood of BTC seeing further downside in the near-term is now significantly higher than what it was previously Some analysts are noting that where it trends next will depend largely on its reaction to a few […]

2020-9-13 19:00


Фото:

BitPay Under Fire For Rejecting $100K Bitcoin Amazon Rainforest Donation

A blocked Bitcoin donation to help the fight against the Amazon Rainforest fires has become the latest publicity headache for BitPay. BitPay Fails To Resolve BTC Freeze According to a social media exchange on August 23, the embattled cryptocurrency payment processor is facing fresh criticism after it failed to allow a $100,000 Bitcoin donation to go through.

2019-8-23 15:00


Аналитики Heisenberg Capital рассказали при какой цене биткоина исчезнут альткоины

Рынок цифровых активов постепенно отвергнет все альткоины, оставив место только для первой криптовалюты. Однако сперва биткоин должен значительно вырасти в цене. Об этом заявили аналитики венчурной компании Heisenberg Capital.

2019-5-6 12:03


Heisenberg Capital: биткоин останется единственной криптовалютой, если достигнет определенной цены

Рынок цифровых активов постепенно отвергнет все альткоины, оставив место только для первой криптовалюты. Однако сперва биткоин должен значительно вырасти в цене. Об этом заявили аналитики венчурной компании Heisenberg Capital.

2019-5-6 11:27


Фото:

Bitcoin Price Analysis: New High Paves Potential Reversal Setup

After days and days of consolidation, bitcoin finally managed to break a new high for the first time in almost two weeks. This new high, so far, has been short lived, however, as it was almost immediately sold into by eager bears:Figure 1: BTC-USD, 4-Hour Candles, New HighOur current 4-hour candle is seeing a relatively easy retracement after days and days of an upward grind.

2019-3-9 02:08


Фото:

Fatfish CEO Claims SEC Will Eventually Approve a Bitcoin ETF

The market is all fired up regarding a Bitcoin ETF that could help in regularizing the wild west of cryptocurrencies and finally bring them to the mainstream investment sector. The Securities and Exchange Commission (SEC) has adopted a very conservative and cautious approach to this concept, rejecting the Winklevoss ETC proposal and delaying VanEck-SolidX and […] Fatfish CEO Claims SEC Will Eventually Approve a Bitcoin ETF was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-8-7 16:30


The Bitcoin ETF proposal from WikiWillis doubled was rejected by PT.

On Thursday, July 26, the U.S Securities and Exchange Commission (SEC) published a report rejecting the Bitcoin ETF proposal filed by the Winklevoss twins back in June. CNBC reports that the proposal to list the Winklevoss Bitcoin Trust’s commodity-based shares on BATS BZX Exchange was voted down 3-1 by the securities watchdog on Thursday. However, the

2018-7-27 14:02