Willy Woo: Taproot address usage has dropped from 42% to 20% since 2024, possibly due to concerns over quantum security.

PANews, December 17 — On-chain analyst Willy Woo, citing Glassnode data, pointed out that the proportion of bitcoin transactions using the Taproot output type has dropped significantly from a 2024 high of 42% to the current level of about 20%. Woo stated that this is the first time the latest output format has "lost adoption" among users, and suspects the main reason may be that Taproot is more exposed to quantum computing risks, while the older SegWit and Legacy formats are less susceptible to quantum attacks.

Last month, Willy Woo stated: Bitcoin needs to guard against quantum computing threats and recommends migrating to SegWit addresses for risk mitigation.