Coinbase, which holds 5% of all bitcoin, wants the quantum fix started now
Coinbase, which holds about 5% of all bitcoin, has emphasized the importance of beginning preparations for quantum computing threats now, as a sufficiently powerful quantum computer could potentially reverse-engineer private keys and drain wallets, possibly within a few years according to Google researchers. The company recommends adopting flexible post-quantum signatures, staged migration strategies, and other measures such as supporting both old and new wallets to ensure security against future quantum attacks. Coinbase also highlighted the need to separate the handling of dormant or late-migrating wallets from broader security protections to prevent delays, noting the risk of theft from older, exposed wallets if a quantum computer were built quickly. The discussion includes proposals for technical upgrades aimed at enhancing Bitcoin's resilience, although the full implementation faces logistical challenges given Bitcoin's decentralized nature.
