New Proposal Offers Satoshi Nakamoto a Solution to Prove Bitcoin Control Without Transferring Funds

Concerns regarding Bitcoin's vulnerability to quantum computing have long been intertwined with the enigma of Satoshi Nakamoto. Millions of bitcoins, including those attributed to Nakamoto, worth approximately $84 billion, are at risk due to exposed public keys. The proposed solution involves a soft fork that would eventually render legacy address types obsolete, compelling holders to migrate to quantum-safe formats. However, this approach poses a dilemma for dormant holders like Nakamoto, who would need to publicly reclaim their assets. Dan Robinson of Paradigm has introduced an alternative solution, known as Provable Address-Control Timestamps (PACTs), which allows holders to generate a proof of ownership without moving their coins. This proof, bundled with a random salt, is then timestamped and committed to the blockchain, remaining private until the holder needs to spend their coins. If Bitcoin implements a soft fork that freezes quantum-vulnerable coins, the protocol could include a rescue path that verifies the holder's proof, ensuring the secure release of their coins. While PACTs offer a potential solution, they require the adoption of a STARK verification protocol, which would necessitate a separate soft fork and substantial infrastructure development. Ultimately, the success of PACTs hinges on the willingness of holders, including Nakamoto, to create these commitments, as they cannot be retroactively generated.