Cardano Founder Disagrees with Bitcoin's Quantum Solution, Claims It Won't Rescue Early Coins

Bitcoin developers have proposed a solution to protect against quantum attacks by freezing 8 million coins. However, Cardano's Charles Hoskinson believes this solution is flawed and cannot rescue the network's oldest coins, including those attributed to Satoshi Nakamoto. Hoskinson argues that BIP-361, the proposal to phase out quantum-vulnerable addresses, is being misleadingly presented as a soft fork when it would actually require a hard fork due to its incompatibility with existing signature schemes. He claims that the proposed zero-knowledge recovery plan is also insufficient, as it cannot help users with pre-2013 coins, including the approximately 1 million coins associated with Satoshi, which were generated using a different key derivation method. Hoskinson's critique extends beyond the technical aspects, highlighting Bitcoin's lack of formal governance as a significant issue in resolving such tradeoffs.