Coinbase enables Bitcoin Taproot transfers for enhanced privacy and efficiency

From Investing.com

October 09, 2024 2:30 pm:

Coinbase now allows users to send Bitcoin to Taproot addresses, improving accessibility to on-chain destinations post major Bitcoin upgrade. Taproot, implemented in Nov 2021, enhances privacy, efficiency, and smart contract capabilities. Taproot addresses, beginning with “bc1p,” leverage Schnorr signatures for transaction secrecy and efficiency. Not all wallets support Bech32m, hindering full benefits. Taproot went live in Nov 2021, featuring BIPs for improved programming language and future updates. The impact of Taproot upgrade may take time to be fully realized as more service providers adopt the technology.

Read more at Investing.com: Coinbase Finally Activates Support for Bitcoin Taproot Transfers: Details By U.Today