Coinbase users can now send Bitcoin to Taproot addresses, marking a significant upgrade. The long-awaited feature was finally made available by Coinbase on Tuesday, enabling millions of users to utilize Taproot's privacy and cost-saving benefits. This update resolves the frustration faced by users who were previously unable to leverage Taproot since its launch in November 2021. Prior to this integration, sending Bitcoin to Taproot addresses on Coinbase was challenging, resulting in delays and failed transactions. With this enhancement, Coinbase users can now send Bitcoin to Taproot addresses, aligning with other platforms like OKX, Binance, and Kraken. Taproot, proposed by Bitcoin Core developer Gregory Maxwell, utilizes Schnorr signatures to streamline complex transactions, reducing data size and enhancing scalability. This upgrade enhances privacy by masking complex transactions as standard Bitcoin transfers, making it harder to trace transactions on the public blockchain. Read more AI-generated news on: https://app.chaingpt.org/news

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