Cardano Founder Criticizes Bitcoin's Quantum Computing Fix as Insufficient

Recently, Bitcoin's core developers suggested implementing a freeze on approximately 8 million coins to protect against potential quantum attacks. However, Charles Hoskinson, the founder of Cardano, expressed his disagreement with this approach in a video, stating that it would not be enough to secure the coins owned by Satoshi Nakamoto, the creator of Bitcoin. Hoskinson argued that the proposed solution, known as BIP-361, is technically incorrect and would require a hard fork to be effective, as it would invalidate existing signature schemes. He also pointed out that this approach would not be able to rescue the roughly 1.7 million bitcoin that were created before 2013, including the 1 million coins associated with Satoshi's early mining activities, due to their reliance on a different key derivation method. Furthermore, Hoskinson criticized Bitcoin's lack of formal on-chain governance, which hinders the network's ability to resolve disputes and implement upgrades through a structured process.