Jameson Lopp and a team of five others have suggested a plan to lock up Bitcoin addresses that could be at risk from future quantum computers, aiming to safeguard BTC against potential threats from this new technology.
This change is driven by ongoing worries within the community that improvements in technology might eventually weaken the network’s existing security.
Migration Towards Safer Wallets
On Tuesday, the group published a plan on GitHub detailing how to phase out older, less secure wallet types, as part of a proposal called BIP-361. This will be done in three steps.
This updated proposal expands on earlier work presented in February regarding BIP-360. It suggests a software update that would add a new type of transaction output called Pay-to-Merkle-Root (P2MR). This change would eliminate the existing structure in Bitcoin addresses that currently exposes public keys and makes them vulnerable.
The newest plan would initially stop users from sending Bitcoin to older Bitcoin addresses that are considered unsafe against future quantum computing attacks. This is designed to motivate people to update to more secure wallet software.
Looking ahead, the next phase, about two years from now, will enforce a much stricter rule. After that point, any Bitcoin wallet still using the older signature format won’t be able to send transactions. Essentially, if exchanges or regular users haven’t updated their Bitcoin to newer, more secure wallets by then, those funds will become inaccessible – they’ll be stuck and unusable. As an analyst, I’m emphasizing the importance of proactive wallet updates to avoid this issue.
We’re also hearing talk of a potential third phase to the process, which would allow users to reclaim their funds even if they didn’t meet the initial deadline. However, I need to emphasize that this is still just being discussed – it’s not confirmed yet, and my team and I are currently researching its feasibility and trying to gauge broader support within the Bitcoin community.
What this Means For the Network
Experts predict that quantum computers could pose a threat to Bitcoin’s security between 2027 and 2030. Currently, about 34% of all Bitcoins in circulation are already potentially at risk.
The proposal points out that these kinds of attacks aren’t always immediately noticeable, allowing attackers to quietly access vulnerable accounts. Because of this, developers believe it’s too dangerous to wait until a threat is actively happening to address the issue.
The article also highlights how upgrading the entire network could be helpful. Specifically, it would strengthen defenses against future attacks and provide more confidence in the network’s long-term security.
The draft also points out that a well-defined timeline would help everyone involved work together more effectively. Developers believe this is because it would give wallets, exchanges, and other institutions time to get ready for potential security issues, rather than scrambling to respond during an actual attack.
Several organizations are starting to protect their digital assets. Recently, Blockstream Research revealed it has made the first transactions on a Bitcoin sidechain that uses advanced, future-proof encryption designed to withstand potential threats from quantum computers.
From my analysis, a significant amount of Bitcoin is becoming lost forever, which will dramatically decrease the total supply available. While this loss naturally increases scarcity, the development community also thinks it will encourage users to be much more careful with how they manage and secure their Bitcoin.
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2026-04-15 20:47