$BTC #bip360 #BitcoinNews
This new type of output protects transactions sent to the mempool and helps preserve the free market, avoiding the need for off-chain private transactions outside of the mempool.
In January of this year, Torpey Kyle wrote in an article for Cointelgraph Magazine that "according to a 2022 study by Universal Quantum, which is a spin-off company associated with the University of Sussex, a quantum computer with 13 million qubits would take a day to decrypt a private key associated with a vulnerable Bitcoin address." Nvidia CEO Jensen Huang has stated that "very useful quantum computers" are likely still twenty years away, implying that their real-world applications will be limited for some time. In a recent episode of ARK Investments' Bitcoin Brainstorm podcast, Blockstream co-founder and CEO Adam Back also dismissed those claiming that the quantum threat to Bitcoin is imminent.
The truth is that the implementation of BIP360 appears to represent a significant advance in the protection of Bitcoin against the threat of quantum computing. By introducing quantum-resistant addresses (P2QRH) and allowing users to opt for post-quantum signature schemes, it is believed that transactions will be secure, even in a future where ECDSA cryptography may be compromised.
