Upcoming Bitcoin (BTC) Taproot Upgrade

Fellow ABCCers,

We are going to support the Bitcoin (BTC) Taproot upgrade.

Expected approximately on 14 Nov., 2021 (UTC), at a height of 709,632, a soft fork named Taproot will be carry out on the Bitcoin (BTC) network, which aims to improve privacy, efficiency and smart contracts capability.

In the meantime, please note:

• Trading of BTC will not be affected during the upgrade.
• Deposits and withdrawals of BTC will be suspended during the upgrade.
• We will re-open deposits and withdrawals for BTC once we deem the upgraded network to be stable.
• The estimated time of the upgrade above mention is only for reference and is subject to change depending on block propagation times.

How will Taproot upgrade benefit users:

• Higher Privacy Level: Taproot will make simple transactions indistinguishable from simplified ones.
• Lower Fees: By reducing amount of transaction data lower transaction costs.
• Higher TPS: Less data per transaction means more data per block, which make a higher TPS rate.

More information:

• Taproot Activation

Thank you for your patience and support!

ABCC Team

2021/11/09