BIP 350 — Bech32m format for v1+ witness addresses

BIP 350 (Bech32m format for v1+ witness addresses) modifies the bech32 checksum constant to fix the insertion weakness found in BIP 173, and mandates the new bech32m encoding for witness version 1 and higher — thus all Taproot (bc1p) addresses — while v0 addresses keep original bech32. Repository status: Deployed.

Debate relevance: Explains a real-world adoption friction: early Taproot rollout was slowed by wallets and exchanges that validated only bech32. Useful precision point when 'Taproot addresses' come up. Common misstatements: Calling Taproot addresses 'bech32' — they are bech32m; software that treats the two as identical rejects or mishandles bc1p addresses. The BIP 173 weakness concerned future-version malleation, not theft from existing v0 addresses.