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Countdown to Bitcoin Taproot upgrade: Will the node need to be updated?

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The Bitcoin Taproot upgrade is in the countdown, and, as expected, it could be activated on November 13. The nodes represent the users on Bitcoin Network and protocol.

*Update: We have created a new article with information about the Taproot implementation, which you can see here: “The Bitcoin Taproot update is now live and it will bring significant changes

It just takes roughly 800 blocks so Taproot can be added to the chain, which must happen in fewer than six days for Taproot to be active in Bitcoin.

The most crucial Bitcoin network and software upgrade of the previous five years is arriving in a relatively short time. Yet, the fraction of participating nodes still hasn’t been updated to accept it.

According to the website given by the developer Luke Dash Jr. concerning the node count, in which only 50 percent of them already support the new version, The client Bitcoin Core 0.22 is the first to offer support to Taproot. Currently.

The Bitcoin Taproot upgrade is in the countdown, and, as expected, it could be activated on November 13. The nodes represent the users on Bitcoin Network and protocol.
30,393 nodes accept Taproot in Bitcoin and 30,377 nodes that do not accept it.

The dangers of a fork and split of the Bitcoin network are unlikely because of the Bitcoin Taproot Upgrade

According to Taproot, the activation date, which might be between November 13 and November 14 according to Taproot.watch, disturbs several developers and other members of the Bitcoin community. 

The main reason is whether the difference between the nodes that activate Taproot and no could cause or encourage a happening division chain ( chain split ). The quick answer is “No,” albeit there are a few flats.

As bitcoiner Nicolas Bourbonni explained that for a chain split to occur, the nodes must amass enough processing power to construct a blockchain that is longer than the existing one. The miners’ evidence of labor accomplishes this.

Given their support for Taproot earlier this year, Bourbonni does not believe miners would wish to run alternative software and reject blocks that contain Taproot-type transactions.

On the other hand, Taproot is incorporated in Bitcoin as a soft fork, implying that this upgrade is compatible with prior versions of the Bitcoin software and the blockchain’s history.

Therefore, an outdated node does not have the power to reject a version of the chain that includes blocks with transactions of the Taproot format, without this leaving it outside the Bitcoin consensus.

Bourbonni noted that nodes that are not updated would not receive transactions from Taproot, such as those that a user could send from their wallet. 

Still, these nodes can accept and relay the blocks that include these transactions and are added to the chain by the miners.

For his part, Luke Dash Jr. explained that chain divisions should not be confused with a strong fork since this is the particular version of different software and is incompatible with the predominant version in the most significant number of nodes.

An old node is a forced fork concerning each soft fork [the other nodes].

So if we have a lot of old nodes, the rules are not applied consistently, and pressure is created from the [Bitcoin] economic sector to support a hard fork [different version of the software] to remove Taproot, said Luke Dash Jr., a Bitcoin developer.

Dash also noted that the emergence and acceptance of an alternative software or hard fork are unlikely. Still, if a Bitcoin economic sector decides not to upgrade to Taproot, it could incentivize the creation of two different chains ( chain split ).

CryptoDeFinance recently reported that some nodes have been having problems with Taproot transactions in tests carried out by developers.

Therefore, Bitcoin users have been suggested to take certain precautions regarding this upcoming update.

Learn a bit more about the Taproot Upgrade

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GameChain’s Multi-Chain Ecosystem Poised to Revolutionize Gaming and Propel GAME Token Growth

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GameChain is at the forefront of transforming the gaming industry by creating a robust ecosystem that brings together developers and players in an unprecedented way. By fostering an environment where both parties can thrive, GameChain is opening up a world of possibilities that extends beyond traditional gaming platforms. Central to this innovation is its broad multi-chain compatibility, which is set to redefine the boundaries of blockchain gaming.

One of GameChain’s standout features is its support for multiple leading blockchain networks, including Ethereum, Arbitrum, Optimism, Polygon, and Avalanche. This extensive compatibility ensures that developers have the flexibility to build and deploy games across various platforms, tapping into different user bases and leveraging the unique advantages of each network. For players, this means access to a wider array of games and assets, all within a seamless and interconnected ecosystem.

The broad multi-chain support not only enhances accessibility but also significantly improves scalability and transaction efficiency. By utilizing networks like Arbitrum and Optimism for their layer-2 solutions, GameChain can offer faster transaction times and lower fees. This technical prowess ensures a smoother gaming experience and encourages more users to participate in the ecosystem.

Based on these groundbreaking developments, industry analysts anticipate that the GAME Token is set to experience substantial growth. The token’s utility across multiple chains and its integral role in transactions, staking, and governance within the GameChain platform position it for increased demand. As more developers and players join the ecosystem, the value of the GAME Token could rise, reflecting its central role in this expanding network.

With its commitment to innovation and community empowerment, GameChain is not just creating an ecosystem—it’s pioneering the future of blockchain gaming. The platform’s multi-chain compatibility and the potential surge in GAME Token value underscore its capacity to reshape the gaming landscape. For developers and players looking to be part of a transformative movement, GameChain offers the tools, community, and opportunities to thrive in the evolving world of Web3 gaming.

For more information, visit the GameChain presale site or join the community on Telegram and X.

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CeFi and DeFi Leaders Converge at Exclusive Pre-TOKEN2049 Singapore B2B’s Executive Night

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In an era marked by the rapid convergence of traditional finance (CeFi) and decentralized finance (DeFi), the boundaries between these two worlds are becoming increasingly blurred. As the financial landscape continues to evolve at an unprecedented pace, industry leaders are seeking opportunities to navigate this new paradigm and forge meaningful connections.

ChainUp, Singapore-based blockchain solutions company is proud to present the CeFi and DeFi B2B Executive Night, a pivotal gathering for industry leaders and innovators scheduled for September 16, 2024, at CÉ LA VI Singapore, ahead of the Formula 1 Singapore Grand Prix 2024 race weekend. This exclusive Pre-TOKEN2049 event coincides with ChainUp’s 7th anniversary, marking a significant milestone in the company’s journey.

Connect with influential figures and gain insights into the latest trends shaping the digital asset landscape at this exclusive event. Attendees, including founders, CEOs, and top executives from CeFi, DeFi, technology, and investment sectors, will engage in in-depth discussions covering the full spectrum of the digital asset industry. These discussions will encompass the convergence of CeFi and DeFi, institutional adoption, regulatory developments, and the transformative potential of Web3, fostering an environment ripe for innovation and strategic partnerships.

Reflecting on a year of resilience and growth in a challenging market, ChainUp’s COO, Chung Ho emphasized: “This premier gathering not only celebrates our 7th year but also underscores our commitment to driving innovation within the increasingly regulated financial landscape. As ChainUp strategically moves towards the regulated space, we’re excited to connect with industry leaders, share insights, and collectively shape the future of finance.”

The pre-TOKEN2049 CeFi and DeFi B2B Executive Night are joined by co-organizers, B2 Network, a modular Bitcoin (BTC) L2 DeFi ecosystem that introduces B2 rollup to users and developers; Sinohope, a Hong Kong-listed digital asset custody and management service provider; Diamond sponsors Huawei Cloud, a leading provider of innovative cloud solutions that empower business digital transformation; Gold sponsors Odyssey, explore a new era of Memcoins with Odyssey Exchange, eventflo, a data-driven Web3 event management platform powered with FloCoin incentivization, exSat, a groundbreaking BTC docking layer solution that enhances BTC’s scalability; Silver sponsors Pell, a BTC restaking platform build on Omnichain Trust Network; eCloudrover, an AI-centric cloud solutions service provider for business digitalization; Supported by fractlBlockchain Association Singapore, and Singapore Fintech Association.

For more information and continued updates on CeFi and DeFi B2B Executive Night, please visit ChainUp’s official website event page. Tickets are now available for purchase on our Lu.ma event page

About ChainUp

ChainUp, a Singapore-based blockchain tech provider, offers solutions for the future of finance, including white-label exchange softwares, award-winning digital asset custody solutions, and more. With over 1,000 clients and reaching 60 million end-users, ChainUp is a trusted partner for Web3 founders and institutions.

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A fresh take on crypto: Saitama Inu transforms into the Saitama Kingdom Token

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In a spectacular turn of events, the beloved Saitama Inu is back, reigniting the WolfPack community with the launch of the Saitama Kingdom Token. This new meme token aims to bring back fun in crypto with games and rewards, and strengthen the unity of the WolfPack community. 

A New Era for the WolfPack Community

First, there was the Saitama Inu meme token that captured the hearts of many. It evolved into Saitama, a utility token, and then into the powerful SaitaChain Coin (STC).

Now, SaitaChain introduces a whole new meme token, Saitama Kingdom Token, designed to reignite the fun in crypto. Built on the robust layer 0 SaitaChain Blockchain, the WolfPack community is set to embark on an exciting new adventure with the ultimate meme token.

Reborn as the Saitama Kingdom Token, this token is designed to infuse the crypto world with excitement and engagement. With Saitama the Wolf as its mascot, the token is set to deliver interactive games, enticing prizes, and wild rewards. This is not just a token; it’s an experience created to bring joy and camaraderie to the crypto world.

Community-Driven Success

Inspired by the legendary strength and unity of the WolfPack community, Saitama Kingdom Token is poised to build a thriving crypto kingdom. It’s a call to all enthusiasts to join this dynamic and fun-filled journey. The Saitama Kingdom Token is more than just a comeback; it’s a celebration of community spirit and shared success.

Exciting Rewards and a World of Entertainment

It also extends a warm invitation to friends worldwide to explore the Crypto Kingdom and shares the exciting news that a free SaitaCard will be given with every generous purchase of Saitama Kingdom tokens, strengthening the bond between the SaitaChain ecosystem and the vibrant Wolfpack community. (T&C apply)

A Legendary Legacy

Saitama Inu’s return as the Saitama Kingdom Token marks a legendary comeback in the crypto realm. With a commitment to redefining meme and game coins, Saitama stands tall, proud of the flourishing kingdom he has helped create, calling all crypto lovers to join the adventure and be part of the community-driven success story that is Saitama Kingdom Token.

SaitaCard: Your Crypto, Your Way

Explore the Crypto Kingdom and enjoy exciting rewards, including a free SaitaCard with every generous purchase of Saitama Kingdom tokens. (T&C apply)

SaitaCard, a virtual and physical crypto debit card powered by Visa, allows hassle-free management for all your digital assets. Compatible with the SaitaPro app, users can enjoy complete control of their assets through the app. The crypto card is available in over 155+ countries, with fund loading through various cryptocurrencies, swipe, online, and tap-to-pay payment options, and ATM withdrawal anywhere in the world. Moreover, with crypto withdrawal at any time and multi-currency IBAN accounts, this card is making everyday purchases seamless and convenient.

SaitaChain Blockchain: Powering up the Future

Built on the cutting-edge SaitaChain Blockchain (SBC), the Saitama Kingdom Token benefits from unparalleled scalability, security, and low transaction costs. As a layer zero blockchain, SaitaChain provides a foundational infrastructure that supports high-throughput applications and cross-chain compatibility, enabling different blockchain networks to communicate seamlessly.

The layer 0 architecture enhances the overall efficiency and interoperability of the blockchain ecosystem. With a strong global community of over 400k members, SaitaChain is set to revolutionize the future of digital transactions.

For more details, stay tuned to discover the journey paved for the Saitama Kingdom Token. This is a comeback for the ages, where the wolves rule and the fun never ends!

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