Fearing attacks by quantum computers, Bitcoin developers have already begun coding hard forks that could change the supply of currency. Developer Agustin Cruz is the latest developer to post drafts of Bitcoin Improvement Proposals (BIP) on the Bitcoin-Dev mailing list.
The draft BIP, entitled “Quantum Resistant Address Movement Protocol” (QRAMP), contains spare codes and instructions for destroying the world’s most valuable blockchain, colloquially known as Bitcoin (BTC).
His BIP contains code for the hard fork consensus change that enacts the mandatory transition for UTXOS with quantum failure.
In the context, Bitcoin’s Elliptic Curve Digital Signature Algorithm (ECDSA) protects UTXOS. Unfortunately, ECDSA cannot defend against sufficiently sophisticated quantum attackers. Quantum Computer hasn’t been stolen yet, but it hasn’t been stolen yet It is possible that more advanced machines can steal them at some point in the coming years.
Read more: Google’s quantum computers can beat Bitcoin in two ways
Clean your coins into a quantum-resistant wallet!
If QRAMP wins consensus and is activated with the dominant version of the full-node software Bitcoin core, a countdown will begin. If the user does not clean the coin into a quantum-resistant wallet by the deadline, Bitcoin Core will reject transactions attempting to use funds from the legacy wallet.
In a BIP memo, Cruz argues that it “provides a clear, non-negotiable opportunity to secure funds to legitimate owners.” He called his proposal “realistic” and “necessary.”
Importantly, BIP is to effectively change the supply of BTC. After the deadline has passed, reject transactions from legacy UTXOS. It is the virtual burn of those coins from the circulation of BTC.
For this reason, QRAMP is very controversial. Plus, many people relate to extending life situations. Prevents users from accessing their wallets for many years.
As a draft BIP, there is no BIP number assignment yet. As with all the proposals to make Bitcoin network quantum resistance, there is no consensus on the best implementation yet.
