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Pay to Taproot is the native SegWit v1 output format. It commits directly to a public key which can optionally be tweaked with the hash of a script tree. This combines capabilities of previous output formats which were usually based on either a public key hash or a script hash. P2TR addresses are Bech32m encoded and start with the prefix `bc1p`.
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How to choose a nothing-up-my-sleeve (NUMS) point on secp256k1 for use in Taproot?
In BIP-341, an example NUMS point is given, along with a cautionary note about leaking information:
One example of such a point is H = lift_x(0x0250929b74c1a04954b78b4b6035e97a5e078a5a0f28ec96d547bfe …
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How to choose a nothing-up-my-sleeve (NUMS) point on secp256k1 for use in Taproot?
Per BIP-341, if you want to create a Taproot output that is only spendable via the script-path spend (and not a key-path spend), you must "pick as internal key a point with unknown discrete logarithm. …