Bitcoin faces quantum threat: Debate emerges over fate of Satoshi's frozen coins
By
Shaurya Malwa
Crackles when you bite it. Shows the baker did the work.
Summary
A Coinbase-convened panel warns that Bitcoin should begin preparing for quantum computing attacks now. The core issue is that quantum-resistant signature schemes need to replace current ECDSA and Schnorr signatures. However, a contentious debate exists over what to do with vulnerable coins that cannot be moved—including millions of BTC believed to belong to Satoshi Nakamoto and other owners who lost their keys, plus roughly 5 million more exposed through address reuse. One camp proposes a hard deadline after which old signatures would no longer be accepted, effectively freezing unmoved coins. The panel declined to take a position on whether those vulnerable coins should eventually be frozen.
Key quotes
· 3 pulledSwapping in quantum-resistant signatures is the easy part, but the fight is over the coins nobody moves.
One camp argues for a hard deadline, after which the signature schemes Bitcoin uses today, ECDSA and Schnorr, stop being accepted.
A Coinbase-convened panel says Bitcoin should start preparing for quantum attacks now, but declines to take a position on whether millions of vulnerable coins, including many linked to Satoshi Nakamoto, should eventually be frozen.
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