Binance founder Changpeng Zhao said that balances that have not seen movement in the Bitcoin network for years, including addresses associated with Satoshi Nakamoto, can be frozen in the future against a possible quantum threat. According to Zhao, such a step can only be brought forward after a quantum-resistant upgrade and with the open support of the Bitcoin community.
Transition proposal against quantum threat
Zhao stated in the Galaxy Brains podcast hosted by Alex Thorn on June 18 that quantum computing poses a theoretical but non-ignorable risk to Bitcoin. Zhao said that there is no direct threat in the current situation and reminded that quantum-resistant cryptographic systems already exist.
At the heart of the proposal is a network-wide transition process. Accordingly, users will be able to move their assets to new, safer addresses within a period of 6 to 12 months. After the period expires, old addresses can be gradually deactivated and unmoved balances can be frozen under the updated protocol.
Mini dictionary: ECDSA and Schnorr are digital signature methods used to prove control of addresses in Bitcoin. It is argued that if quantum computers develop sufficiently, such classical cryptographic methods may weaken in the long term.
Zhao said that if dormant wallets cannot be protected, the first party to break the address can take the coins inside. In his view, this could create an unfair distribution that rewards technical capacity rather than the right of the original owner.
Changpeng Zhao emphasized that this decision cannot be made by a single person, stating that such a result would reward technical skill, while the original owner may not be protected.
Cannot be implemented without community approval
Zhao’s assessment does not constitute an accepted plan in the Bitcoin protocol. As with any significant change to the network, such a proposal will require consensus among developers, miners, node operators and the broader user community.
Coinbase, mentioned in the news, is known as one of the largest cryptocurrency exchanges based in the USA. The company’s advisory board also recommended making advance preparations against quantum risk in its report published in June. The report noted that quantum computers do not pose a threat to Bitcoin today, but if the risk changes, a pre-prepared plan can reduce the shock in the network.
The report, contributed by Ethereum Foundation researcher Justin Drake, also included a transition schedule for coins protected by ECDSA and Schnorr. According to the report, old addresses that have not been migrated can provide attackers with large amounts of assets, which can also affect market stability.
| Title | Zhao’s suggestion | Coinbase report |
|---|---|---|
| Timing | 6 to 12 month transition window | Call for advance preparation |
| Aim | Protection of inactive balances against malicious access | Reducing risk from legacy cryptography |
| Situation | Theoretical suggestion | Preparatory report |
Criticisms escalate the debate over ownership and immutability
On the other hand, those who oppose the proposal argue that making dormant coins unspendable could mean interference with private property. Criticisms focus on the fact that such an approach may conflict with Bitcoin’s principle of immutability and user control.
In his previous assessment, Alex Thorn had argued that coins thought to belong to Satoshi should not be touched, regardless of technological developments.
It is reported that Alex Thorn is one of the leading names who oppose the idea of ice cream. In his statement in May, Thorn said that Satoshi’s coins should be left as they are and stated that many Bitcoin developers and advocates shared this opinion.
For now, the Bitcoin network has not adopted a post-quantum transition plan and there is no set deadline on this matter. The debate directly concerns property rights and network governance as well as security.
