Developer Agustin Cruz has introduced a new proposal aimed at protecting Bitcoin from potential threats posed by quantum computing.
Quantum-Resistant Protocol for Bitcoin
The proposed protocol, titled 'Quantum-Resistant Address Migration Protocol' (QRAMP), suggests that users should migrate their funds to wallets capable of withstanding quantum computer attacks. If they fail to do so by a certain deadline, their unspent transaction outputs (UTXOs) would be destroyed, effectively 'burning' their coins.
The Importance of Protecting Against Quantum Computers
Quantum computers have the potential to break the cryptographic algorithms that secure Bitcoin. If such technology emerges, it could compromise the encryption protecting user wallets, leaving Bitcoin vulnerable to theft and manipulation. Therefore, the QRAMP proposal offers a proactive solution to avoid future problems.
Cardano Founder’s Comment on Quantum Threats
Charles Hoskinson, the founder of Cardano, emphasized the importance of scientific research in addressing quantum technologies. His team consists of 168 scientists from leading universities, publishing research on mitigating quantum threats. 'We need to work on industry-wide issues like mitigating the threat posed by quantum adversaries,' he stated.
A proposal like QRAMP highlights the growing concerns within the blockchain community regarding the potential threats that may arise with the advancement of quantum computing.
