Bitcoin Core Developer Proposes Collateral Defense Scheme Against Quantum Attacks

Bitcoin Core developer Cory Fields has proposed a "quantum mine" scheme, aiming to raise the cost for future quantum attackers to steal Bitcoin from old wallets via a collateral mechanism. Under the proposal, transferring Bitcoin vulnerable to quantum attacks requires additional collateral and a waiting period. Legitimate holders can present pre-prepared secret proof of ownership within the timeframe to retrieve their assets and claim the attacker’s collateral. Reports note that since the blockchain cannot distinguish between attackers and legitimate holders, the latter must also provide collateral when transferring such Bitcoin; for dormant assets with lost private keys, Fields also proposed a challengeable auction mechanism. The scheme remains a proposal and has not been implemented as a network rule. (BeInCrypto)