Bitcoin faces an "existential threat," new proposal to freeze quantum-vulnerable Bitcoin such as Satoshi Nakamoto's

On July 16, according to Decrypt, Casa CTO Jameson Lopp and five developers jointly proposed a Bitcoin Improvement Proposal (BIP), planning to gradually phase out quantum-vulnerable address types to cope with the unprecedented threat posed by quantum computers to the security of Bitcoin private keys. The proposal will prohibit transfers to high-risk addresses and prevent such bitcoins from being spent within five years, involving about 25% of existing bitcoins, including the 1 million owned by Satoshi Nakamoto. The proposal also suggests that frozen assets can be safely recovered through a new BIP in the future. Research shows that if a quantum attack is successful, the entire Bitcoin ecosystem may suffer a major economic shock. [PANews]