Coinbase Enables Bitcoin Transfers to Taproot Addresses

The post Coinbase Enables Bitcoin Transfers to Taproot Addresses appeared first on Coinpedia Fintech News

Coinbase announced that users can now send Bitcoin to Taproot addresses, enhancing transaction privacy. Taproot, a key Bitcoin upgrade activated in November 2021, improves privacy by making complex transactions appear like ordinary ones. This upgrade introduces a new address format starting with “bc1p,” replacing the older “bc1q” format. The change is designed to streamline Bitcoin transactions while maintaining greater privacy for users. Coinbase’s integration of Taproot marks a significant step forward in the adoption of enhanced privacy features within the Bitcoin network.