Bitcoin’s path to quantum safety may be smoother than expected, with proactive steps already underway. Most crypto wallets use quantum-safe derivation schemes for seed phrases, enhancing security against quantum threats. A soft fork could require proof of seed phrase ownership in Bitcoin to address potential quantum threats.
Organizations like Chaincode Labs and Blockstream Research are crucial in advancing post-quantum security for Bitcoin. The Bitcoin community is preparing for post-quantum challenges faster than anticipated, with a consensus forming among developers on approaches to address quantum threats.
While current post-quantum cryptographic schemes are in early stages and may not be reliable yet, the public perception of quantum threats may pose a greater risk to Bitcoin than the actual technological threat in the short term. The Ethereum Foundation is taking a more proactive approach to quantum threats compared to Bitcoin.
Proactive measures, such as integrating new cryptographic methods and requiring multiple signature schemes, can mitigate risks. Developers prioritize principles like trustlessness and security over short-term price movements. Bitcoin’s development is guided by foundational principles that focus on user autonomy and security.
Overall, while challenges remain, the path forward for Bitcoin’s quantum safety appears to be more streamlined than initially thought. By understanding the dynamics of post-quantum threats and taking proactive measures, the community can ensure a secure future for the cryptocurrency.
Source: https://cryptobriefing.com/matt-corallo-most-crypto-wallets-are-quantum-safe-bitcoins-soft-fork-could-require-proof-of-seed-phrase-ownership-and-the-ethereum-foundation-is-leading-in-quantum-threat-response-unchained