Bitcoin Developers Propose Bitcoin Quantum Migration Plan That Would Freeze Legacy Coins
By Micah Zimmerman
Bitcoin developers, including Jameson Lopp, proposed BIP-361 to migrate the network to quantum-resistant signatures amid threats from advanced quantum computers that could break ECDSA and Schnorr cryptography. The plan features three phases: prohibiting new transactions to legacy addresses after about three years, invalidating legacy signatures after five years to freeze unmigrated coins, and a potential recovery mechanism using zero-knowledge proofs. Over one-third of Bitcoin in circulation, including Satoshi Nakamoto's early holdings, is vulnerable and could be rendered unspendable if not migrated.
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