Jun 28th 2021
The road to meaningful Taproot adoption
Taproot is a significant upgrade for bitcoin, but it will take a long time to realize its benefits at scale. Related: it’s been ~4 years since the implementation of SegWit, and we only just recently crossed 70% SegWit usage.
Source: BitcoinVisuals
There is some speculation that blockchain-dot-com’s wallet finally having upgraded to SegWit is the force behind the recent surge.
Several developers have speculated that they take up ~30% of the block space given the number of p2pkh transactions in the mempool, which might also explain why the mempool cleared for the first time in 2021 on June 2nd.