Cardano Founder: BIP-361 is essentially a hard fork, or freezing early BTC

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Deep Tide TechFlow News, April 17, according to CoinDesk, Cardano founder Charles Hoskinson stated that Bitcoin’s quantum defense proposal BIP-361 was mischaracterized as a soft fork, when it is actually closer to a hard fork, and cannot protect approximately 1.7 million early BTC generated before 2013, including about 1 million attributed to Satoshi Nakamoto. He said that the zero-knowledge proof recovery scheme in the proposal relies on BIP-39 mnemonic phrases, but early wallets used different key generation methods, making it impossible to provide the necessary proof, so the related assets could be permanently frozen under the current scheme. The report also states that BIP-361 co-author Jameson Lopp described it as a rough emergency plan rather than a final standard.

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