Blockstream CEO Adam Back has advocated for optional quantum-resistant upgrades for Bitcoin, challenging a rival proposal for a mandatory freeze on vulnerable coins. The debate follows research suggesting quantum computers capable of breaking Bitcoin’s encryption could arrive sooner than expected, threatening an estimated 6.9 million BTC.
Adam Back proposed optional upgrades at a conference, contrasting with the mandatory approach of BIP-361. “Preparation is key. Making changes in a controlled way is far safer than reacting in a crisis,” Back stated.
The BIP-361 proposal would phase out vulnerable addresses and ultimately freeze non-migrated coins. This includes the holdings of Bitcoin’s creator, Satoshi Nakamoto.
Recent research from Google indicates quantum computers may break elliptic curve cryptography with fewer than 1,200 logical qubits. A superconducting system could need fewer than 500,000 physical qubits, a 20-fold reduction from prior estimates.
An estimated 6.9 million BTC are vulnerable, including roughly 1.7 million from the Satoshi era. BitMEX Research published an alternative approach involving a “canary fund” of vulnerable coins.
Other researchers argue for quantum-resistant transactions without a network fork. Outside Bitcoin, networks like Ethereum and Solana are also exploring quantum resistance.
