With quantum computers close to breaking current encryption, Bitcoin developers are competing to protect the world’s biggest cryptocurrency from the unprecedented threat of quantum decryption.
One of the proposed solutions outlined in a recent Bitcoin Improvement Proposal submitted by Chilean engineer Agustin Cruz calls for a forced transition to so-called quantum-resistant address migration protocol addresses to ensure long-term protection against future attacks.
When sending Bitcoin, you use a digital signature that certifies you own the coin. Currently, Bitcoin uses an encryption method (called ECDSA). Finally It will be broken by a powerful enough quantum computer.
The proposed protocol hides the public key until you use the coin. This means that quantum attackers cannot attack keys until they are visible temporarily during a transaction. By then it’s too late. The coin is already moving.
With this protocol, users must move Bitcoin from legacy addresses protected by ECDSA to new quantum-resistant addresses before the set deadline to protect the network from potential future quantum attacks. ECDSA stands for Elliptic Curve Digital Signature Algorithm. This is an encryption method that allows only the owner of the private key associated with a Bitcoin address to sign the transaction.
“The main concern that pushed me to propose QRAMP was systematic risk: the idea that the value of Bitcoin, especially the coin sitting at an old address where public keys could be exposed, could suddenly become vulnerable,” Cruz said. Decryption. “Proposing a protocol change felt like a necessary method to actively tackle the risks of this network, rather than scrambling in a potential future crisis.”
This proposal includes updates to Bitcoin code, wallet and monitoring tools, with a testnet that will test everything, deploy in phases, and if something goes wrong, you have a backup option.
As Cruz explained, the main challenges regarding implementing this change are not just technical. It should be noted that it is social and that any proposal to risk risk loss or network splitting of funds known as hard forks naturally meets strong resistance.
“I think overcoming this resistance depends on opening up dialogue and dealing with concerns directly. That means clearly conveying the risk of doing nothing against QRAMP risk and emphasizing that the goal is protecting the network for everyone,” Cruz says. “It also means setting up a very generous timeline for migration to minimize accidental fund losses and ensure a robust and easy-to-use migration tool built into your wallet and supported by exchanges.”
Bitcoin quantum threat
Experts say that even the most sophisticated classic supercomputers (like the powerful Elpitan) will take billions of years to break Bitcoin encryption, but they warn that future quantum computers could crack encryption algorithms that secure blockchain networks in just time.
Quantum computers may still be apart for years, but Cruz said the QRAMP case begins with a simple premise. Why wait for a threat to appear before planning it?
“My perspective is really about risk management. The impact of successful quantum attacks is devastating for Bitcoin and can undermine its entire value proposition,” Cruz said. “Therefore, even if the probability appears to be low in the short term, severity requires aggressive preparation.”
Cruises don’t just raise alarms about quantum threats. Similar concerns have emerged in other blockchain ecosystems. In March 2024, Ethereum co-founder Vitalik Buterin proposed a hard fork to protect Ethereum from similar quantum threats.
“In fact, we already argue that it’s suitable for making very simple recovery forks to deal with such situations,” writes Butarin. “Blockchains need to be hard fork and users need to download new wallet software, but few users lose their funds.”
The plan included inverting inverted blocks after an attack, suspending certain transactions, and introducing quantum resistance verification.
Meanwhile, the Solana developer launched Winternitz Vault in January. This is an optional feature that Devs claimed to have provided quantum resistance. The Vault generates 32 private keys, hashing each 256 times to create a public key, and only stores the hash for security purposes. For each transaction, the Vault is reset with a whole new key.
Blockchain networks support potential attacks, but some quantum computing experts believe the technology is more likely to be used for mining than for malicious purposes.
“The goal is to start a conversation now and keep Bitcoin safe for decades,” Cruz said.
Edited by Andrew Hayward
