Bitcoin Developers Propose 'Wait and React' Strategy to Counter Quantum Threats

A new proposal is being debated among Bitcoin developers, suggesting a shift in how the network responds to potential quantum computing threats. Instead of imposing a pre-scheduled freeze on vulnerable coins, the plan involves waiting for an attacker to demonstrate their capabilities and then reacting. This 'wait and react' strategy relies on a canary system, where a small amount of bitcoin is placed in a special address that only a quantum-capable attacker can unlock. If the address is accessed, it triggers a network-wide freeze of older wallets. The system includes a bounty for the first entity to demonstrate a quantum attack, which is designed to incentivize attackers to reveal their capabilities rather than exploiting them for personal gain. However, this approach assumes that the attacker will prioritize the bounty over the potential for stealing millions of bitcoin, which may not be a reliable bet. The proposal is an alternative to BIP-361, which would impose restrictions on a fixed five-year timeline, regardless of whether quantum computers are capable of attacking the blockchain. Critics of BIP-361 argue that it undermines Bitcoin's core principle of control resting with private key holders. The new proposal introduces a 'safety window' to make stealth attacks more difficult, allowing vulnerable coins to move but preventing the recipient from spending them for an extended period. If the canary is triggered during this window, the coins would be frozen retroactively, increasing the risk for any attacker attempting to quietly extract funds.