Proposed SIP: Taproot Payments Integration

[shea256]

I mentioned the following on another thread and I am cross-posting it here:

@shea256

Stacks currently massively overpays for Bitcoin transaction fees because it still uses legacy addresses.

Years ago, segwit addresses were added as an address option which have even lower transaction costs than legacy addresses, and more recently, taproot addresses were added which have an even lower transaction cost than segwit addresses.

I’m sure there have been discussions to upgrade Stacks to newer address types (ideally taproot addresses), so I’d love to be pointed to where those conversations have been happening and what the current status is.

If Stacks were to adopt the latest address types, the mining process would have lower fees and all of these fees would be passed on as increased revenue to Stackers.