Bitcoin analyst Willy Woo has outlined a possible technique for customers involved concerning the long-discussed quantum computing menace: retailer bitcoin in a SegWit pockets and chorus from shifting it till quantum-resistant protocols are deployed.
Woo’s proposed quantum protection
Woo shared on social media that transferring bitcoin to a SegWit-compatible handle might disguise public keys from quantum computer systems, that are theorized to ultimately decrypt keys and compromise funds.
He defined that SegWit addresses conceal the general public key till a transaction is made, offering a layer of safety that legacy and Taproot addresses might lack.
Woo acknowledged:
“Prior codecs disguise the general public key behind a hash, so a BSQC [big scary quantum computer] can’t simply crack it.”
Nevertheless, Woo cautioned that this method requires customers to keep away from spending from the SegWit handle till a quantum-safe answer is prepared, doubtlessly taking a number of years.
He additionally famous that bitcoin held by custodians, resembling these in ETF treasuries, might be made quantum-resistant if establishments act proactively.
Debate over SegWit’s security
Not all specialists agree with Woo’s stance.
Charles Edwards, founding father of Capriole, countered that SegWit doesn’t make bitcoin quantum-safe and warned that posts suggesting a 7-year security window are deceptive. Edwards argued:
“SegWit is not any safety mannequin. We have to improve the community ASAP, and these sort of posts suggesting we’ve got 7 years would imply the community collapses first.”
Timeline for quantum threat
The consensus amongst trade observers is that quantum computing probably received’t threaten bitcoin earlier than 2030, with quantum-resistant upgrades already within the works.
Detractors, together with Michael Saylor, have beforehand described quantum considerations as exaggerated advertising techniques, whereas others level to the numerous technological obstacles quantum computer systems nonetheless face.
Critics query quantum urgency
Skeptics argue that sensible quantum computer systems are many years away, and that banks and different targets would grow to be susceptible earlier than bitcoin.
Regardless of ongoing debate, the bitcoin neighborhood continues to watch developments and focus on potential safety upgrades.