Coinbase, which holds 5% of all bitcoin, says the network should start preparing now for the potential threat posed by quantum computers.
The exchange warns that future quantum technology could eventually derive private keys from public keys, allowing vulnerable wallets to be emptied. It says work on protecting Bitcoin should begin before such systems become capable of carrying out that attack.
Coinbase is calling for the use of flexible post-quantum signatures, which would allow the network to adapt as the technology develops. It also supports a staged approach to adoption, rather than requiring every wallet and service to change at the same time.
The exchange says any security measures must be supported by reliable implementations. It also stresses that the plans should work for individual users as well as institutions that rely on multiparty security systems.
A further safeguard proposed by Coinbase is a backup quantum-proof key. The measure would provide an additional form of protection for wallets as the network moves towards signatures designed to resist quantum attacks.
Coinbase says the technical response should be kept separate from the difficult question of what to do with dormant wallets or coins whose owners migrate late. That debate could involve decisions about assets that remain unprotected, but the exchange argues it should not hold up wider efforts to improve Bitcoin’s security.
Its position is that preparations for quantum computing and decisions over potentially lost coins are separate issues. Establishing protection for active users and institutions, it says, should proceed without waiting for agreement on how long dormant wallets should be given to move their holdings.
The exchange’s recommendations therefore focus on flexibility, gradual implementation and dependable security tools, while leaving the question of inactive or late-migrating wallets to a separate discussion.
