New Proposal Addresses Quantum Risks for Bitcoin Holders
- Approximately 1.1 million Bitcoin attributed to Satoshi Nakamoto could be vulnerable to quantum theft, valued at around $84 billion.
- A proposal known as BIP-361 aims to phase out quantum-vulnerable addresses over five years.
- Dan Robinson introduced the concept of Provable Address-Control Timestamps (PACTs), allowing owners to prove control without moving coins.
- The PACTs require a separate soft fork and community consensus to implement a verification protocol resistant to quantum attacks.
- If adopted, the PACTs would include a rescue path for wallets using BIP-32, addressing gaps in the current proposals.
The introduction of PACTs could mitigate risks for dormant Bitcoin holders by enabling proof of ownership without public exposure until necessary. This approach balances security against potential quantum threats while respecting property rights.
Whether Satoshi Nakamoto or other long-dormant holders will utilize this system remains uncertain, as it requires active participation from them to secure their assets.(Source)
