A new proposal from developer Agustin Cruz outlines a significant upgrade to Bitcoin’s security protocols to counter the threat posed by quantum computers. The proposal suggests transitioning to new wallets designed for resistance against quantum computing, impacting existing transaction systems and potentially rejecting certain transactions. 🤯
The core of this proposal lies in changing how Bitcoin handles cryptography. After a specific block height, nodes running updated software will refuse to process transactions relying on ECDSA (Elliptic Curve Digital Signature Algorithm). This aims to prevent potential attacks using quantum computers.
While the goal is to enhance Bitcoin’s security, transitioning to quantum-resistant wallets presents challenges. There are concerns about potentially leaving many users unprepared and vulnerable after a hard fork, which would create incompatibility with older versions of the software.