Bitcoin developers propose BIP-361 to freeze tokens in addresses vulnerable to quantum attacks.

Techub News reports that, according to Cointelegraph, six researchers in the field of Bitcoin quantum security, including Jameson Lopp, proposed BIP-361, suggesting to freeze tokens in addresses vulnerable to quantum attacks on the Bitcoin network, including the approximately $74 billion worth of Bitcoin held by Satoshi Nakamoto, to prevent these cryptocurrencies from being stolen after the widespread adoption of quantum computers. The proposal has sparked controversy within the community, with critics calling it “authoritarian and confiscatory,” arguing that forcing upgrades and invalidating old transactions lack reasonable justification.

BIP-361 is based on BIP-360, released in February, which proposed a soft fork for a new output type called “Pay to Merkle Root” (P2MR). It functions similarly to existing Bitcoin Taproot (P2TR) addresses but removes the key path vulnerable to quantum attacks. While BIP-360 can protect newly issued tokens in the future, it does not address the approximately 34% of the token supply that remains susceptible to attack unless these tokens are transferred to new addresses. BIP-361 proposes that, after three years of activation, Phase A of the proposal will prevent any new BTC from being sent to old-style addresses, and all users will switch to quantum-resistant address types. Phase B will invalidate old signatures, and any Bitcoin still residing in vulnerable addresses will be effectively frozen within five years after activation.