New Bitcoin Proposal Seeks to Freeze Satoshi’s and Other Quantum-Vulnerable BTC

Odaily Planet Daily – Casa CTO and co-founder Jameson Lopp proposed a Bitcoin Improvement Proposal on Tuesday aimed at addressing the potential threat posed by quantum computers to the Bitcoin network. The proposal, co-authored by six developers, plans to phase out quantum-vulnerable address types in three stages.
According to recent research by Deloitte, approximately 25% of all Bitcoin is currently at risk from quantum computing, including the 1 million bitcoins believed to belong to Bitcoin’s creator, Satoshi Nakamoto. Experts are concerned that as quantum computing technology advances, the private keys of these old wallets could be reverse-engineered within the next decade.
The proposal would prohibit sending funds to quantum-vulnerable addresses and freeze the bitcoins in these addresses for five years, while encouraging users to adopt “post-quantum” Bitcoin address types. The authors emphasize: “Bitcoin has never faced an existential threat to its cryptographic foundation. A successful quantum attack would cause significant economic disruption and damage to the entire ecosystem.” (Decrypt)