Lens1000
VIP Contributor
The taproot upgrade for bitcoin is the most important for future development. Taproot, Bitcoin's most recent upgrade, now has support on BitMEX. Increased anonymity, lower transaction fees, and more flexible smart contracts are all part of the taproot upgrade, which will fix bitcoin's flaws.
On November 14 of last year, Taproot was enabled on the Bitcoin protocol.
BitMEX, a cryptocurrency exchange, has enabled support for Taproot addresses, according to a statement released on Friday.
According to the release, "as of today, BitMEX permits withdrawals to Bech32m Bitcoin addresses." "Earlier today, the first BitMEX client withdrawal to such an address occurred."
The upgrade added a new output type called Pay to Taproot (P2TR), which uses the new Bech32m address format and makes bitcoin spending seem the same whether it's a basic transaction or not.
According to the statement, "BitMEX is happy to leverage the latest Bitcoin technology to deliver better services and reduced fees for our users."
Because of the mind-blowing features that were introduced to the bitcoin blockchain, many bitcoin investors have started using the taproot upgrade addresses for payment.
The more complicated the spending conditions are, the more transaction fees the user can save by using Taproot, as the new address type lets practically every transaction appear to be a straightforward, single-signature transaction.
How would you react to this?
On November 14 of last year, Taproot was enabled on the Bitcoin protocol.
BitMEX, a cryptocurrency exchange, has enabled support for Taproot addresses, according to a statement released on Friday.
According to the release, "as of today, BitMEX permits withdrawals to Bech32m Bitcoin addresses." "Earlier today, the first BitMEX client withdrawal to such an address occurred."
The upgrade added a new output type called Pay to Taproot (P2TR), which uses the new Bech32m address format and makes bitcoin spending seem the same whether it's a basic transaction or not.
According to the statement, "BitMEX is happy to leverage the latest Bitcoin technology to deliver better services and reduced fees for our users."
Because of the mind-blowing features that were introduced to the bitcoin blockchain, many bitcoin investors have started using the taproot upgrade addresses for payment.
The more complicated the spending conditions are, the more transaction fees the user can save by using Taproot, as the new address type lets practically every transaction appear to be a straightforward, single-signature transaction.
How would you react to this?
