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200 sats \ 11 replies \ @DarthCoin 11 Apr \ parent \ on: Are you using taproot addresses when you go on chain? bitcoin
from now on, all new txs must be taproot.
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- greatly increase the efficiency of the Bitcoin network
- reduces transaction sizes and increases throughput during high-stress periods - less fees
- increases privacy and security via transaction and signature compression
- allows for native smart contract implementation - better LN channels
- more seamless support for new future LN implementations
... and some more but don't come to my mind rn
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bc1q (segwit) is still OK
bc1p (taproot) is desired.
https://darth-coin.github.io/wallets/move-btc-taproot-address-en.html
bc1 are ok, but I still see people with legacy addresses... losers.
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I read that taproot could be more vulnerable to Quantum Computer because they expose the public key while the other sha256 hash it. They argue that since QC are not good at hacking hashes this could protect the others address type till you spend them so they could be attacked only in the confirmation phase while for P2TR you have a long exposure of your public key in the block chain. I do not think this is a problem right now but I would like to hear some opinions of the great minds present out here ;-)
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if somebody still use a legacy address, it means they didn't even got doubled their BTC stash in the 2017 fork... LOL such losers.
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those are not legacy. All those addresses are post-fork.
legacy addresses start with 1