Bitcoin Developers Bet on a 'Wait and React' Strategy to Counter Quantum Attacks

The Bitcoin community is considering a new approach to addressing the potential threat of quantum computing to the network's security. Instead of imposing a pre-emptive freeze on vulnerable coins, the proposed 'canary' system would wait for a quantum-capable attacker to demonstrate their capabilities and then trigger a network-wide restriction. This approach is based on the assumption that the attacker will claim a bounty rather than steal funds. The system involves placing a small amount of bitcoin in a special address that can only be unlocked by a quantum-capable attacker, with any spending from that address serving as proof of the threat and triggering a freeze. The proposal is designed to provide an alternative to a fixed five-year timeline for phasing out vulnerable addresses and is layered with a financial incentive for users to contribute to the bounty. However, the approach relies on the bet that the first entity capable of breaking Bitcoin's security will claim the bounty rather than executing a large-scale theft, which cuts against the network's design principles and historical resistance to protocol-level interventions.