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Bitcoin developer creates solution to protect wallets from quantum threat
Lightning Labs CTO Olaoluwa Osuntokun introduced a prototype tool to safeguard Bitcoin wallets from potential quantum attacks.
To prevent the threat, developers proposed a protection plan. First — voluntary migration: BIP-360 introduces a quantum-resistant type of wallet. Users will be able to transfer coins to new addresses in advance.
However, migration takes time, not all digital gold holders will be able to adapt. Moreover, there are old wallets in the network with access forever lost.
Solution:
Osuntokun's solution is a backup option for those who didn't manage to migrate but are not caught in the "emergency brake" trap.
His system, based on zk-STARK, replaces the digital signature: the owner confirms wallet creation through a secret seed phrase without revealing it. Thanks to this, saving one address does not threaten the others generated from the same phrase.