Bitcoin proposal aims to phase out addresses vulnerable to quantum attacks

Jameson Lopp, the Chief Technology Officer of Casa, has proposed a new Bitcoin Improvement Proposal (BIP) aimed at gradually phasing out Bitcoin addresses that are susceptible to quantum computer attacks — a threat that is increasingly approaching reality.

The proposal encourages users to migrate to more secure 'post-quantum' address types. The first phase will restrict sending BTC to old addresses, and after five years, the Bitcoin in these addresses may become unusable.

Research by Deloitte shows that approximately 25% of Bitcoin is currently at risk — including 1 million BTC believed to belong to Satoshi Nakamoto. If attacked, this could trigger a massive sell-off, causing significant damage to the entire ecosystem.

The proposal was announced at the Quantum Bitcoin Summit in San Francisco and may spark discussions about scalability, as the data volume for post-quantum signature mechanisms is quite large.

This is the first time the Bitcoin network faces an 'existential threat' that could destroy its cryptographic foundation, and developers are actively seeking ways to enhance its security.

Source: https://github.com/jlopp/bips/blob/quantum_migration/bip-post-quantum-migration.mediawiki

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