Bitcoin developers propose a phased quantum migration proposal

Bitcoin developer Jameson Lopp has proposed a phased approach to quantum migration. The proposal outlines a phased method for transitioning Bitcoin to a quantum-resistant format, including a first phase that would begin three years after the implementation of BIP-360, prohibiting the sending of funds to traditional ECDSA/Schnorr addresses and encouraging users to use quantum-resistant format addresses such as P2QRH. The second phase, two years after the first phase, would invalidate all legacy signatures at the consensus layer and freeze tokens in traditional addresses. An optional third phase would introduce a recovery path for the frozen coins using zero-knowledge proofs. Researchers have warned that a quantum computer capable of cracking Bitcoin's encryption could emerge by 2027, posing a significant threat to the security of the cryptocurrency. [Foresight News]