According to the developers, these assets are held in addresses that have already exposed their public keys, making them potential targets for these sophisticated computing machines.
Due to this, the developers stressed that this is not a hypothetical issue for the distant future but a serious risk that requires proactive mitigation.
They warned that a successful quantum attack wouldn’t just impact market value; it could severely undermine trust in the network’s ability to function securely. They stressed:
“An attack on Bitcoin may not be economically motivated – an attacker may be politically or maliciously motivated and may attempt to destroy value and trust in Bitcoin rather than extract value. There is no way to know in advance how, when, or why an attack may occur. A defensive position must be taken well in advance of any attack.”
To prepare for this threat, the team has laid out a three-phase plan to gradually migrate users from quantum-vulnerable addresses to post-quantum secure alternatives.
The first phase would allow Bitcoin to be sent only to new address types called P2QRH, thereby nudging the network toward quantum resilience. This transition is expected to begin three years after the implementation of BIP-360.
The second phase would invalidate all spends from legacy cryptographic signatures, effectively freezing unupdated addresses after a predetermined block height. According to the developers, this could be roughly five years after phase one begins.
Jacob Youngman, a Bitcoin commentator, expressed concern that the changes might lead to the confiscation of inactive or legacy-held coins, possibly including those linked to Satoshi Nakamoto.
According to him:
“The best we can do would be to give users an opt-in solution that protects them from quantum computers.”
