Developers Unveil Quantum-Resistant Solution to Bitcoins Security Challenges

A team of developers has discovered a method to protect the network of the first cryptocurrency from potential threats posed by quantum computers. Casa’s Chief Technology Officer (CTO) Jameson Lopp shared a proposal on GitHub.

«Quantum attackers could calculate private keys for known public addresses and then slowly transfer funds to avoid attracting the attention of the crypto community. We may find out about the quantum breach much later unless the attackers intentionally broadcast their transactions,» he noted.

The essence of this initiative is to transition users of digital gold to quantum-resistant addresses while blocking all old ones. Frozen funds can be recovered. According to the developers, this will necessitate the creation of a separate Bitcoin Improvement Proposal (BIP).

They referenced BIP 360, which was developed by senior protocol engineer Anduro under the pseudonym Hunter Beast. This hard fork aims to implement a new type of address that utilizes post-quantum cryptography.

According to analysts from Deloitte, 25% of all bitcoins are at risk of quantum attacks. This includes 1 million BTC owned by Satoshi Nakamoto.

«The cryptographic foundations of Bitcoin have never faced such an existential threat. A successful quantum attack on Bitcoin could lead to significant economic turmoil and damage to the entire ecosystem,» states the research.

Recall that in March, Lopp proposed to burn quantum-vulnerable bitcoins. Casa’s CTO asserted that recovering access to lost assets contradicts the fundamental principles of digital gold: resistance to censorship, transaction immutability, and conservatism.

Previously, experts from the research organization Chaincode Labs assessed the threat that quantum computers pose to the network of the first cryptocurrency.