Science & Tech · Cybersecurity · 2 hrs ago

Coinbase outlines priorities for protecting Bitcoin from quantum computers

Coinbase outlines priorities for protecting Bitcoin from quantum computers

Coinbase has outlined priorities for a plan to protect Bitcoin from quantum computers.

The exchange wants the design to let developers add or replace post-quantum signature systems without changing how coins are held.

It also supports a staged transition that could let users spend with either a traditional key or a quantum-safe key.

The plan should work for ordinary wallets and institutional custody, including systems that split keys among several parties.

Coinbase says work should begin before a quantum computer can break current cryptography, and late-moving wallets should have a migration path.

The approach would separate upgrades from decisions about old vulnerable coins, including holdings linked to Bitcoin creator Satoshi Nakamoto.

Those coins may be impossible to move if their private keys are lost, and the community is debating whether they should eventually be frozen.

Coinbase says its proposals are input to an open discussion, not final instructions; it wants protection available for people ready to upgrade while the wider community continues its work.

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What people are saying

CoinbaseCompany
We believe a comprehensive transition strategy would ideally protect exposed and newly created funds, fit Bitcoin’s scarce block space, preserve independent resource-bounded validation by full nodes, work in institutional custody, support ordinary wallets, and give the ecosystem a credible migration path for coins that cannot or will not move.
via Gizmodo
In our view, legacy funds are best treated as a separate governance and engineering problem.
via Gizmodo
It is intended as an input to an open discussion, not a set of instructions or a final Coinbase position.
via Gizmodo
We want to contribute to the community’s efforts and help create the conditions for careful, sustained progress.
via Gizmodo