Bitcoin’s upcoming Taproot upgrade and why it matters for the network

While a vast majority of crypto enthusiasts around the globe seem to be gushing about Ether (ETH) at the moment and how its upcoming London hard fork stands to push the premier altcoin’s value even higher, reports have recently surfaced that suggest Bitcoin’s much-awaited Taproot upgrade will go live also sometime by the end of this year.

In this regard, many (BTC) mining pools seem to already be signaling their support for the activation and as per data available on Taproot.watch, a website designed by core Bitcoin developer Hampus Sjöberg, Taproot signaling currently accounts for about 56% of BTC’s total hashing power.