Bitcoin BIP proposes quantum-resistant upgrade by 2030

Key Points

1. The BIP, titled 'Post Quantum Migration and Legacy Signature Sunset,' involves experts like Jameson Lopp and BitcoinQS founder, targeting quantum computers that could break Bitcoin's cryptography by 2027-2030.

2. Bitcoin currently uses ECDSA and Schnorr signatures, but about 25% of unspent Bitcoin outputs have exposed public keys, making them vulnerable to quantum attacks.

3. The proposal suggests a phased approach: first introducing quantum-resistant signatures, then sunsetting legacy signatures after five years, allowing users to recover frozen Bitcoin by proving ownership.

4. Experts warn that a quantum breach could be catastrophic, with 30% of BTC in vulnerable addresses, emphasizing the need for decisive action to secure Bitcoin's future.

5. Recent advances, like Microsoft’s Majorana chip, highlight the urgency, though the primary risk is the community's delay in implementing quantum-resistant solutions.