Bitcoin Core Developer Proposes Collateral Defense Against Quantum Attacks

TechFlow news, November 7, according to a report by BeInCrypto, Bitcoin Core developer Cory Fields has proposed a 'quantum mine' plan that seeks to raise the cost for future quantum attackers trying to steal Bitcoin from old wallets through a collateral mechanism.

Under the proposal, transferring Bitcoin vulnerable to quantum attacks would require additional collateral and a waiting period. Legitimate holders can present a pre-prepared secret proof of ownership within the period, reclaim their assets, and receive the attacker's collateral.

The report noted that because the blockchain cannot distinguish attackers from legitimate holders, the latter would also need to post collateral when transferring such Bitcoin; for dormant assets whose private keys have been lost, Fields also proposed a challengeable auction mechanism. The plan remains a proposal and is not an implemented network rule.

Source: TechFlow