Bitcoin may be on the verge of a significant cryptographic transformation if a new initiative gains momentum.
A proposed Bitcoin Improvement Proposal (BIP) referred to as Quantum-Resistant Address Migration Protocol (QRAMP) has been presented by developer Agustin Cruz. This proposal details a strategy aimed at facilitating a comprehensive transition of BTC from traditional wallets to ones protected by post-quantum cryptographic methods.
Quantum computing represents a shift away from the traditional binary system of processing, leveraging Quantum bits (qubits) that can exist in multiple states at once, greatly increasing computing capabilities. This advancement poses a potential risk to the encryption methods currently employed by conventional computers.
The outlined suggestion indicates that, upon reaching a specific block height, nodes using the upgraded software would refuse transactions involving any coins linked to addresses secured with ECDSA encryption, which might be susceptible to quantum hacking.
Debate over a hard fork
Currently, Bitcoin depends on algorithms such as SHA-256 for mining and the Elliptic Curve Digital Signature Algorithm (ECDSA) for signatures. According to Cruz, older addresses that haven’t been involved in transactions remain safeguarded by extra measures, but those that have revealed their public keys—necessary for executing transactions—could become vulnerable “if sufficiently capable quantum computers are developed.”
The transition would necessitate a hard fork, a request that may prove challenging to fulfill within the community. A hard fork refers to a modification to a blockchain that renders previous versions incompatible.
“I appreciate the initiative, but those who don’t upgrade still risk exposure, including Satoshi’s coins,” commented one user on Reddit regarding the new initiative.
“Bitcoin could adopt post-quantum security for all coins, but this would require a hard fork, which, considering Bitcoin’s history and the beliefs echoed by enthusiasts, would result in a new currency, effectively ceasing to be Bitcoin.”
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A proactive measure
The proposed framework establishes a deadline for migration to secure funds, unless they are transferred to more protected wallets. This initiative is not a reaction to any immediate advancements in quantum computing, but rather a precautionary step, emerging just over a month after Microsoft revealed Majorana 1, a quantum processing unit expected to scale up to a million qubits per chip.
During the migration period, users would still retain the ability to move their funds without restrictions. The BIP advocates for wallet developers, block explorers, and other infrastructure to create tools and alerts to assist users in following through on these changes.
Post-deadline, any nodes that refuse to update might diverge from the main network if they continue to accept legacy transactions.
This isn’t the first instance of a proposed defense mechanism for Bitcoin against quantum threats. Recently, BTQ, a startup aiming to create blockchain solutions resilient against quantum attacks, suggested an alternative to the Proof of Work (PoW) algorithm that incorporates quantum technology.
In its research output, BTQ proposed a technique known as Coarse-Grained Boson Sampling (CGBS). This approach utilizes light particles (bosons) to create unique patterns that reflect the current state of the blockchain, instead of relying on hash-based mathematical challenges.
Nevertheless, this suggestion would also necessitate a hard fork, requiring miners and nodes to swap out their existing hardware in favor of quantum-ready alternatives.
Read more: Quantum Startup BTQ Proposes More Energy Efficient Alternative to Crypto’s Proof of Work