COINTURK NEWS – Bitcoin, Blockchain and Cryptocurrency News and Analysis

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In the Bitcoin $77,261 ecosystem, a new proposal by developer Agustin Cruz anticipates significant modifications to current security protocols to address the threat posed by quantum computers. The proposal suggests a transition from old wallets to new ones designed to be resistant to quantum computing. This transition process will involve changes to the existing cryptocurrency transfer system, and certain transactions will no longer be accepted.

Bitcoin and Quantum Security

The proposal indicates that, after a specific block height, nodes running updated software will reject transactions that use a cryptographic method known as ECDSA (Elliptic Curve Digital Signature Algorithm). This approach is conceived as a preventive measure against the potential threat posed by quantum computers. Quantum computing offers the possibility of computational power beyond traditional binary systems, which raises the likelihood of breaking classical encryption methods.

Implementing this proposal will require altering Bitcoin’s fixed algorithms, which may spark debates within the technical community. To facilitate this change, a hard fork—an update that creates incompatibility with the old version—is anticipated. A Reddit user expressed concerns about this proposal by stating, “I appreciate the effort, but this will still leave everyone who hasn’t moved their coins, including Satoshi’s coins, defenseless.”

Cruz’s proposed transition indicates that unspent transaction outputs in existing wallets are under additional protection; however, key transactions that have been executed and made public could become vulnerable to quantum attacks. This situation has sparked extensive discussions within the Bitcoin community, with no consensus on the challenges of implementing change.

Bitcoin Security Recommendations

The proposal envisions granting users a specified period to transfer their funds to more secure wallets, after which untransferred funds would be locked. Software developers are expected to create tools to alert users, alongside blockchain explorer providers. Alternatively, other methods resistant to quantum attacks are being discussed. For instance, an initiative called BTQ proposes a different computation method to develop solutions outside the current framework.

BTQ’s approach diverges from traditional transaction approval methods by tracking transaction status through unique patterns created by light particles. However, it is noted that this method would also require changes to existing hardware infrastructure. Therefore, both methods have become subjects of debate within the technical and community circles.

As the Bitcoin network prepares to adapt to new security requirements, the proposed quantum-resistant transition is considered a significant step for the future of the system. The implementation process will necessitate updates to both technical infrastructure and user behaviors, suggesting a careful and thorough evaluation process ahead.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.



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