Two Largest Bitcoin Mining Pools Antpool and Poolin add Taproot Support

By Prashant Jha
Published May 4, 2021 Updated May 4, 2021
Best Buy In




Two Largest Bitcoin Mining Pools Antpool and Poolin add Taproot Support

By Prashant Jha
Published May 4, 2021 Updated May 4, 2021

Taproot, the latest major upgrade on the Bitcoin network since 2017 has started to gain traction among miners and mining pools. Two of the largest Bitcoin mining pools Antpool and Poolin have become the latest to integrate taproot. Taproot is a soft fork first proposed in 2018 by the Bitcoin core developer Gregory Maxwell and it promises to increase privacy and other aspects related to complex transaction issues. If implemented it would not just add privacy to crypto transactions it would also ease up the load on the network by nearly 20% as it segregates multiple transactions in one.

Taproot is being lauded as the biggest upgrade since SegWit integration in 2017, it combines the Schnorr signature scheme with MAST (Merklized Alternative Script Tree) and a new scripting language called Tapscrip that would increase Bitcoin’s smart contract flexibility. The transaction on the Bitcoin network is definitely secure, but anyone can trace the transaction for now, while the Taproot activation would ensure that multiple transactions can be cloaked to view as a single transaction.

Bitcoin being a decentralized network the new consensus requires a commutative acceptance rather than a single source making the decision. Thus in order to activate taproot on the Bitcoin network, a certain number of miners need to incorporate the consensus rule in a given time frame.

Would Taproot Turn Out to Be a Success?

The last major upgrade in the form of SegWit received a lot of opposition from many miners and as a result, the integration was not as fruitful or widely adopted as many would have liked. The Taproot adoption time frame started a couple of days ago and miners now have 3 months to collectively accept or reject the integration.

If 90% of the blocks mined during the said phase include the “signal bit,” it would be activated by November this year.


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Prashant Jha
1277 Articles
An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies.