A caller Bitcoin Improvement Proposal (BIP) aims to tackle the menace posed by quantum computers by phasing retired Bitcoin’s bequest signature schemes, which tin beryllium susceptible to quantum attacks, successful favour of quantum-resistant alternatives.
The proposal, titled “Post Quantum Migration and Legacy Signature Sunset,” was drafted earlier this week by a radical of cryptography and blockchain experts, including American bundle technologist Jameson Lopp and BitcoinQS laminitis Christian Papathanasiou.
While quantum computers almighty capable to ace Bitcoin’s cryptography are not yet here, caller developments person narrowed the window. Some world forecasts suggest quantum machines susceptible of threatening Bitcoin (BTC) could get arsenic aboriginal arsenic 2027 to 2030, per McKinsey.
Bitcoin presently relies connected ECDSA and Schnorr signatures to unafraid transactions. Still, astir a 4th of each Bitcoin’s unspent outputs person already revealed nationalist keys onchain, making those funds peculiarly susceptible to a quantum adversary.
“A palmy quantum onslaught connected Bitcoin would effect successful important economical disruption and harm crossed the full ecosystem,” the connection warns. “Beyond its interaction connected price, the quality of miners to supply web information whitethorn beryllium importantly impacted.”
Related: Quantum computers could bring mislaid Bitcoin backmost to life: Here’s how
Phased attack to code quantum computing risks
The connection suggests a phased attack to code the risks posed by quantum computers. The archetypal signifier suggests stopping radical from sending Bitcoin to older, little unafraid addresses that quantum computers could easy break.
About 5 years aft this change, the program volition spell further by making it intolerable to walk immoderate Bitcoin stored successful those old, susceptible addresses, fundamentally freezing those coins.
There is besides a imaginable aboriginal measurement being studied, which mightiness let radical to retrieve their frozen Bitcoin by proving ownership with peculiar cryptographic methods linked to their wallet’s backup phrase, but this portion depends connected further probe and demand.
“The longer we postpone migration, the harder it becomes to coordinate,” the authors write. They reason that a clear, time-boxed program volition make certainty, align stakeholders, and minimize the hazard of catastrophic quantum theft.
Related: Google unveils caller quantum computing chip: Clock ticking for crypto encryption?
Quantum computing threatens Bitcoin
In a caller sentiment for Cointelegraph, David Carvalho, CEO of Naoris Protocol, said that the emergence of quantum computing poses the astir superior menace to Bitcoin’s security yet, perchance susceptible of breaking its cryptographic protections wrong 5 years oregon less.
He noted that caller advances, similar Microsoft’s Majorana chip, person accelerated the improvement of almighty quantum computers, which run otherwise from classical machines. These quantum systems endanger Bitcoin’s halfway information algorithms, particularly arsenic astir 30% of BTC coins beryllium successful addresses susceptible to quantum attacks.
“A breach would beryllium catastrophic for holders, whose funds would beryllium gone forever, and the ecosystem astatine large,” Carvalho said. He added that the existent menace isn’t quantum exertion itself, but the “community’s hold successful acting decisively to unafraid Bitcoin’s future.”
Magazine: Bitcoin vs. the quantum machine menace — Timeline and solutions (2025–2035)