“The Proposal Outlines a Plan to Enforce a Network-Wide Migration of BTC from Legacy Wallets to Ones Secured by Post-Quantum Cryptography.”, – WRITE: www.coindesk.com
A DRAFTCOIN IMPROVEMENT PROPOSAL (BIP) Titled Quantum-Resistant Address Migration Protocol (Qramp) HAS BEEN INTRUDUCED by Developer Agustin Cruz. It Outlines a Plan to Enforce A Network-Wide Migration of BTC from Legacy Wallets to Ones Secured by Post-Quantum Cryptography.
Quantum Computing Involves Moving Away from A Process Reliant on Binary Code, Ones and Zeros, and Exponentally Increating Computing Power by Employing Quantum Bets (Qubits) Simultaneously. Such A Jump in Power Is Expert to Threaten Modern Computing Encryption Built by Classic Machines.
The Proposal Suggests that After AfterMINED BLOCK HEIGHT, Nodes Running The Updated Software Wound Reject Any Transaction Trying To Spend Coins from An Address using ecdsa. make it vulneval to quantum attackers.
A HARD FORK DEBATEBitcoin Currently Relies on Algorithms, Including Sha-256 for Mining and The Elliptic Curve Digital Signature ALGORITHM (ECDSA) FOR Signatures. Per cruz, legacy addresses that haven’t yet transacted are: Powerful Quantum Computers Emerge. ”
The MOVE Wuld Require a Hard Fork, WHICH is Likely Going to be a tall ask from the Community. A Hard Fork Refers to a Change to A Blockchain That Renders An Older Version Incompatible.
“I Admire the Effort Butis Will Still Leave Everyone Who Doesn’t Migrate’s Coins Vunerable, Including Satoshi’s Coins,” SAID ONE REDDIT USER ABOUT The NEW PROPOSAL.
“BITCOIN COUKOIN IMPLEMENT A Post Quantum Security for All Coins But The Wuld Need A Hard Fork, WHICH DUE TO BITCOIN’S HISTORY AND The MANTRA REPEDATED BY MAXIS THAT WOULD WOULD WOULD WOULD Bitcoin Anymore. ”
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Preventive MeASUREThe Proped Solution Sets A Migration Deadline to Lock Those Funds Unless they’re Moved to a More Secure Wallet. This proposal isn’t a response to any imminent breakthRough in quantum computing. Insthead, It’s A Preventive MeASURE, YET IT MONTLE OVER MICROSOFT UNVEILED Majorana 1, A Quantum Processing Unit Designed to Scale to A Mililion Qubits Per Chip.
Durying A Migration Windows, USERS Wuld Still Be Able to Move Funds Frely. The Bip Calls for Wallet Developers, Block Explorars and “Other Infrastructure” to Build Tools and Warnings to Help USers Complly.
After the deadline, non-upgraded nodes Could fork from the Network if they Continue Accepting Legacy Transactions.
This is not the first time someone was suggested a mechanism to defense bitcoin from quantum computing threats. MOST RECENTLY, BTQ, A STARTUP WORKING TO BUILD BLOCKCHAIN Technology that can wa youstand Attacks from quantum computers, has proposed an alternative to the proof.
In itts Research Paper, BTQ proposted a method Called Coarse-Grained Boson Sampling (CGBS). This Process Uses Light Particles (Bosons) to Generate Unique Patterns-Samples-Tatat Reflect the Blockchain’s Current State Institute of Hash-Based Mathematical Puzzles.
However, This Proposal Willd Also Require A Hard Fork Involving Mines and Nodes ReplaCing their Existation Asic-Based Hardware With Quantum-Ready Infrastructure.
Read More: Quantum Startup Btq Proposes More Energy Efficiency Alternative to Crypto’s Proof of Work
