Bitcoin could head towards the most drastic crypto overhaul if the new proposal gains traction.
Draft of the title Bitcoin Improvement Proposal (BIP) Quantum-resistant address migration protocol (QRAMP) was introduced by developer Agustin Cruz. This outlines the plan to implement a network-wide migration of BTC from legacy wallets to those protected by post-Quantum encryption.
Quantum computing involves leaving processes that depend on binary code, zero, and zero by using qubits that exist simultaneously in multiple states (QUBITs). Such a force jump is expected to threaten modern computing encryption built by classic machines.
This suggests that after a pre-determined block height, nodes running the updated software reject transactions that attempt to use coins from addresses using ECDSA ciphers. This makes it theoretically vulnerable to quantum attacks.
Hard fork discussion
Bitcoin currently relies on algorithms including SHA-256 for mining and Elliptic Curve Digital Signature Algorithm (ECDSA) for signatures. According to Cruz, legacy addresses that have not yet been traded are protected by additional layers, but public keys that have not yet been traded (they do not have to carry out transactions) have become vulnerable “if sufficiently powerful quantum computers emerge.”
This move requires a hard fork. This could be a tall question from the community. A hard fork refers to a blockchain change that makes an older version incompatible.
“I admire this effort, but this leaves everyone who will not migrate migrant coins, including Satoshi’s coins,” one Reddit user said of the new proposal.
“Bitcoin can implement post-quantum security on every coin, but it requires a hard fork. This requires a hard fork because of the history of Bitcoin and the mantra that is repeated by Maxis, which creates new coins and is no longer Bitcoin.”
read more: Revisiting Blocksize Wars: How the Bitcoin Civil War resonates today
Preventive measures
The proposed solution sets a migration deadline to lock these funds unless you move to a safer wallet. This proposal is not a response to an imminent breakthrough in quantum computing. Instead, this is a precautionary measure, but a quantum processing unit designed to scale to 1 million kits per chip, just over a month after Microsoft announced the Majorana 1.
During the migration window, users are still free to move funds. BIP builds tools and warnings to help users follow wallet developers, block explorers and “other infrastructures.”
Continuing to accept legacy transactions after deadlines can cause unupgraded nodes to branch out of the network.
This is not the first time someone has proposed a mechanism to protect Bitcoin from the threat of quantum computing. Recently, BTQ, a startup working to build blockchain technology that can withstand attacks from quantum computers, has proposed an alternative to Proof of Work (POW) algorithms that include quantum technology.
In its research paper, BTQ proposed a method called coarse-grain boson sampling (CGB). This process uses light particles (bosons) to generate unique patterns (samples) that reflect the current state of the blockchain, rather than a hash-based mathematical puzzle.
However, this proposal also requires a hard fork that includes miners and nodes that replace existing ASIC-based hardware with Quantum-enabled infrastructure.
Read more: Quantum Startup BTQ proposes a more energy efficient alternative to Crypto’s work proof
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