Cardano Founder Disputes Bitcoin's Quantum Solution, Claims it Won't Protect Satoshi's Coins

Earlier this week, Bitcoin's core developers proposed a plan to protect against quantum attacks by freezing 8 million coins. However, Charles Hoskinson, the founder of Cardano, believes this plan is technically flawed and won't save the network's oldest coins, including those attributed to Satoshi Nakamoto. According to Hoskinson, the proposed solution, BIP-361, is mislabeled as a soft fork and would actually require a hard fork, which would invalidate existing signature schemes. He also argues that the proposal's zero-knowledge recovery plan cannot rescue the roughly 1.7 million pre-2013 bitcoins, including those associated with Satoshi, due to their different key derivation method. Hoskinson's criticism extends beyond the technical aspects, highlighting Bitcoin's lack of formal on-chain governance, which hinders the network's ability to resolve tradeoffs through a structured process.