A new proposal suggests that Bitcoin may not need an immediate or complete freeze in response to future quantum computing threats. Instead of acting preemptively, researchers recommend waiting for clear proof that such technology exists before restricting vulnerable coins.
BitMEX Research has introduced a canary based system designed to trigger a freeze only if quantum capable computers are proven to be active. This approach aims to prevent unnecessary disruption while still preparing for potential risks.
Debate Around BIP 361 and Quantum Freeze Concerns
The ongoing discussion surrounding BIP 361 has divided the Bitcoin community. The proposal, which was recently added to the Bitcoin repository, outlines a phased plan to handle quantum risks. It suggests restricting transactions to vulnerable addresses for three years, followed by a complete freeze after an additional two years.
Critics argue that such measures shift control away from users and weaken Bitcoin’s core principles, particularly its resistance to censorship. Others also question whether there is enough evidence to justify action now, given the uncertainty around the development of quantum computers capable of breaking current cryptographic systems.
In contrast, BitMEX Research proposes a more reactive model. Their canary system would not impose automatic restrictions after a fixed timeline. Instead, the network would enter a monitoring phase, only triggering a freeze if verifiable on chain proof of quantum activity appears.
This proof would rely on a specially designed Bitcoin address created using a Nothing Up My Sleeve number, ensuring that no one possesses its private key. If funds from this address are ever spent, it would signal the presence of a quantum computer. Until then, normal transactions could continue, potentially with added safeguards such as temporary spending limitations.
Canary Fund and Incentive Structure
To strengthen the system, the proposal introduces a canary fund. Users could voluntarily deposit Bitcoin into the special address as a bounty. The idea is to encourage anyone with a functioning quantum computer to demonstrate their capability by claiming the funds instead of targeting private wallets.
Contributors could still maintain some control over their deposits through multisignature arrangements, allowing withdrawals if needed.
However, BitMEX Research notes several risks. The bounty may not be large enough to attract the first quantum capable actor, who might instead choose to exploit other funds. There is also the possibility that a regulated or well known organization could step forward and claim the bounty in a transparent way.
Another concept under consideration is a safety window. Under this model, even after restrictions begin, transactions could still be processed but their outputs would remain temporarily locked for a set period, potentially up to 50,000 blocks, which is roughly one year.#crypto#cryptonews https://coinsignals.net https://t.me/coinsignalpublic
