Bitcoin’s Proposed Quantum Defense Faces Criticism from Cardano’s Founder
- Bitcoin developers proposed freezing 8 million coins to protect against quantum attacks.
- Charles Hoskinson, founder of Cardano, argues this approach cannot save approximately 1.7 million bitcoins linked to Satoshi Nakamoto.
- The proposal, BIP-361, is labeled as a soft fork but may require a hard fork due to its impact on existing signature schemes.
- Hoskinson asserts that early bitcoins used different key methods and lack the necessary seed phrases for recovery under the new plan.
- Jameson Lopp, co-author of BIP-361, described the proposal as a contingency plan rather than a finalized solution.
The debate centers around Bitcoin’s ability to adapt to potential quantum threats while preserving its historical assets, particularly those belonging to Satoshi Nakamoto. Hoskinson’s critique highlights the limitations of BIP-361 in addressing these vulnerabilities effectively.
If adopted as is, the proposal could leave around 1 million bitcoins tied to Satoshi permanently frozen without recovery options for their owners.(Source)
