Bitcoin Devs Propose Sunset For Quantum-Vulnerable Addresses

Bitcoin developers have proposed a plan to protect the Bitcoin network from potential attacks by quantum computers. The proposal suggests a phased retirement of older types of Bitcoin addresses that are vulnerable to these future attacks. This involves stopping support for these older addresses in stages. Three years after a new, quantum-resistant address type is activated, sending Bitcoin to the old addresses would be prohibited. Two years after that, the network would reject transactions using the old address types, making any Bitcoin left in them unspendable. There is an optional phase to potentially allow owners to recover funds after the deadline, but that is pending further research. Roughly 25% of all Bitcoin, including coins possibly belonging to Bitcoin's creator Satoshi Nakamoto, are in these vulnerable addresses. If this plan is adopted, it could significantly impact the Bitcoin ecosystem and require widespread upgrades.