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Paradigm Proposes PACTs to Address Bitcoin's Quantum Vulnerabilities
The proposed fix still involves irrevocably burning funds of quantum-vulnerable addresses that fail to take action.
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Paradigm General Partner Dan Robinson is proposing Provable Address-Control Timestamps (PACTs) as a solution to allow quantum-vulnerable BTC addresses to recover their funds in the event a network fork freezes their coins.
What's the Scoop?
- Quantum Workaround: In a newly published research paper, Paradigm's Dan Robinson advocates for the utilization of a zero-knowledge proof solution called PACTs that would allow BTC holders to secretly timestamp their knowledge of their private keys. Should Bitcoin enact an emergency fork that disables spending from quantum-vulnerable addresses, users who generated a PACT before the arrival of "cryptographically relevant quantum computers" (CRQCs) could use the proof to reclaim access to their funds at any time.
- Many Benefits: Users can generate PACTs offchain and anonymously, without revealing address ownership or moving funds. According to Robinson's paper, adopting PACTs now, "would help give holders as much time as possible to secure their coins against an emergency sunset, while allowing us to leave the more difficult decisions – including whether a sunset is necessary or desirable – until later."
- Not Perfect: In order to recover the coins associated with a frozen quantum-vulnerable addresses, the rightful holder must generate a PACT before the arrival of CRQCs or enactment of an emergency fork. Holders who fail to take preventative action risk permanently losing access their coins.
PACTs: Protecting Your Bitcoin From a Quantum Sunset
A possible way for Bitcoin holders to protect themselves from having their funds frozen in an emergency post-quantum hard fork—without having to publicly move their coins.
