BIP 361 Quantum Soft Fork of BTC
@darkflame
Posted 1d ago · 2 min read
Post Quantum Migration and Legacy Signature Sunset
"Abstract: This proposal follows the implementation of any post-quantum (PQ) output type and introduces a pre-announced sunset of legacy ECDSA/Schnorr signatures. It turns quantum security into a private incentive: fail to upgrade and you will encounter additional friction to access your funds, creating a certainty where none previously existed.
Phase A: Disallows sending of any funds to quantum-vulnerable addresses, hastening the adoption of PQ address types.
Phase B: Renders ECDSA/Schnorr spends invalid, preventing all spending of funds in quantum-vulnerable UTXOs. This is triggered by a well-publicized flag-day five years after activation.
Phase C (TBD): Pending further research, a separate BIP proposing a method to allow quantum safe recovery of legacy UTXOs, likely via zero knowledge proof of possession of a corresponding BIP-39 seed phrase."
"March 20, 2023/News Releases: Cleveland Clinic and IBM Unveil First Quantum Computer Dedicated to Healthcare Research
IBM Quantum System One deployed at Cleveland Clinic as part of landmark 10-year partnership"
"academic road-maps now estimate a cryptographically-relevant quantum computer as early as 2027–2030, per McKinsey."
"Rationale: Even if Bitcoin is not a primary initial target of a cryptographically relevant quantum computer, widespread knowledge that such a computer exists and is capable of breaking Bitcoin's cryptography will damage faith in the network." (See More)
This morning I caught Charles Hoskinson of Cardano (ADA) live discussing this.
https://www.youtube.com/watch?v=GFXdLqpWB20
If you know anything more about this potential Soft Fork, or how Bitcoin / Altcoin users can prepare for Quantum Risks, please comment below!
Estimated Payout
$0.13
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