Changpeng Zhao recently stated that if Bitcoin migrates to a quantum-resistant encryption system in the future, the network can set a transition period for old addresses. After the transition period ends, addresses that have not yet migrated can be frozen under the new protocol, potentially involving approximately 1 million Bitcoins believed to be associated with Satoshi Nakamoto.
The proposal focuses on resistance to quantum migration.
During a podcast hosted by Galaxy Research President Alex Thorn on June 18, Changpeng Zhao stated that quantum computing itself is not an insurmountable problem for Bitcoin, as quantum-resistant encryption schemes already exist. The more challenging aspect is driving a network-wide upgrade before quantum computing truly threatens the existing security model.
According to his vision, if Bitcoin adopts quantum-resistant encryption in the future, the network could have a migration window of approximately 6 to 12 months, allowing holders to transfer their assets to a new, protected address. The old address would then be deactivated after the window period ends.
If the relevant addresses are not transferred within the time limit, the remaining Bitcoins can be frozen directly. Zhao Changpeng believes that if these addresses remain available for a long time, the party that gains the ability to crack quantum mechanics may acquire these assets in the future, which would make Bitcoin ownership "whoever cracks it first gets it".
Satoshi Nakamoto's holdings of cryptocurrency became a focal point of discussion.
This idea has attracted attention because the market generally believes that Satoshi Nakamoto's related addresses hold a maximum of about 1 million bitcoins, which have remained untouched for many years. Changpeng Zhao's statement implies that this long-dormant asset may face special handling during future upgrades.
He also stated that such decisions should not be made by individuals, and any changes should be decided by the Bitcoin community through a consensus mechanism.
Developers still disagree on freezing old currency.
Bitcoin developers, researchers, and supporters have long been divided over how to handle old addresses and dormant assets. A report released by the Coinbase Advisory Board in June suggested that Bitcoin should plan its migration path to post-quantum cryptography before quantum computing poses a real threat.
One proposed solution mentioned in the report is to set a migration deadline for assets currently protected by ECDSA and Schnorr signatures. Supporters argue that if this is not addressed in advance, attackers could potentially use quantum capabilities to acquire large amounts of Bitcoin in the future, impacting market stability.
Opponents argue that turning long-untouched Bitcoin into unspendable assets is tantamount to depriving private property and would also violate Bitcoin's emphasis on immutability and user control.
Additional information:Alex Thorn of Galaxy Digital previously stated that Satoshi Nakamoto estimated that the Bitcoin holdings were distributed across approximately 22,000 addresses, with many addresses each holding around 50 Bitcoins. He believes that this distribution structure makes large-scale quantum attacks more difficult than some outside observers anticipated.
