Coinbase has finally enabled support for sending Bitcoin to Taproot addresses, a significant upgrade that enhances privacy and reduces transaction costs. The move addresses long-standing frustrations from users who were unable to use Taproot’s benefits since its launch in November 2021. Taproot, Bitcoin's largest upgrade since SegWit in 2017, enhances scalability by using Schnorr signatures to compress transaction data, reducing fees and improving privacy by making complex transactions appear as standard transfers. With this update, Coinbase joins platforms like OKX, Binance, and Kraken in supporting Taproot, giving users access to more onchain destinations. Source: Decrypt
