A post-quantum-supported Bitcoin wallet called Quip has been added to the new solutions developed against the quantum computer threat, which has been discussed in the crypto world for years. This new product, introduced by Postquant Labs, offers a different approach to one of the most controversial security issues of the Bitcoin ecosystem. The company states that Quip uses a smart contract layer that runs on top of Bitcoin without requiring any network changes.
New era in security: WOTS+ and Layer 2 approach
Quip wallet stands out with an advanced signature system for Bitcoin called WOTS+ (Winternitz One-Time Signature). WOTS+ is a technology that has passed tests in the field of cryptography. It is emphasized that this method, which is not based on classical elliptic curve mathematics, has a structure that quantum computers cannot easily overcome. Using the Arch Network infrastructure, Quip allows developers to create smart contracts that connect directly to Bitcoin’s original network. In this way, new features can be implemented without updating the basic protocol.
Such solutions, called Layer 2, provide new functions without requiring major changes on the main chain. This approach has come to the fore in recent years to increase the scalability and flexibility of Bitcoin.
Different quantum resistor proposals and controversies
Various methods have been put forward against quantum risk in the Bitcoin community. Leading developer Jameson Lopp and a group of experts introduced the BIP-361 proposal two weeks ago. This proposal calls for phasing out quantum-vulnerable addresses over five years and freezing wallets that do not migrate. Approximately 1.1 million Bitcoins are likely to be affected by this process; It is assumed that this amount belongs to Satoshi Nakamoto.
Another option is the eCash hard fork, proposed by Paul Sztorc and causing controversy. Sztorc advocates copying the Bitcoin chain and creating a new structure within seven side chains. One of the sidechains here will be designed to be fully quantum resistant, while some assets will be redistributed.
Colton Dillion, CEO of Postquant Labs, stated that the Bitcoin community has long postponed finding a solution to the quantum problem, whereas Quip can immediately provide the same protection without any network updates.
Reservations from the community and experts
The approach introduced by Quip does not require a soft fork or consensus on the Bitcoin network. The last major soft fork of Bitcoin was with Taproot in 2021. Experts point out that a new network update can take years.
Disagreements arise among existing recommendations. Jameson Lopp argues that Layer 2 solutions like Quip may be inadequate because public keys will still be visible when a transaction is made on the mainnet and could become a target for a quantum attack in the future. Sztorc, on the other hand, argues that gradual updates are the wrong method and that the real solution is quantum security integrated from the beginning.
The Quip wallet application will be available not today, but next week. Third-party security auditing is ongoing, but not yet complete. Quip’s similar technology is already used in networks like Ethereum and Solana, but its implementation in Bitcoin and the Arch Network itself are still in their early stages.
Postquant Labs technical director Dr. Richard Carback explained that this method can reduce the time interval against a possible quantum attack to two blocks, or approximately 20 minutes. On the other hand, while Layer 2 supporters find the protocol change in Bitcoin unnecessary, the opposing group advocates more radical changes.
Which method will dominate will largely depend on how quickly quantum computers develop. Observations so far show that most Bitcoin investors prefer traditional, mainchain solutions for hedging.
