[BIP Proposal] No burn, Quantum Migration Proposal, Quantum Secure Asset Verification & Escrow (QSAVE)

The potential impact of quantum computing on Bitcoin and the necessity for a migration strategy to quantum-resistant signatures is a significant concern discussed in recent communications within the Bitcoin Development Mailing List. Quantum computing, while still not fully realized, poses a real threat to the current cryptographic foundations of Bitcoin, specifically regarding signature security. The gradual nature of quantum computing's relevance means there will be time to adapt, yet proactive measures are necessary to ensure the majority of Bitcoin holdings remain secure.

A soft-fork upgrade is proposed as a feasible solution for transitioning Bitcoin to quantum-resistant algorithms. This approach would allow for the seamless migration of both active and most cold wallet addresses, potentially safeguarding approximately 70% of Bitcoins that are not considered permanently lost. The introduction of quantum-resistant signatures through a soft-fork could effectively address vulnerabilities without requiring a hard fork, thereby maintaining continuity and stability within the network.

Further, the concept of a "quantum upgrade" for future transactions is introduced, suggesting an innovative method to secure Pay-to-Script-Hash (P2SH) wallets against quantum attacks. By allowing wallet owners to post a quantum-secure claim containing a new public key and a signature from the original private key, which remains hidden until a transaction occurs, this method offers a protective mechanism for funds that have not migrated prior to the effective date of quantum computing's impact on the ecosystem.

This migration plan not only emphasizes the importance of preparing for quantum threats but also highlights the need for comprehensive research and community consensus on the best path forward. The urgency of these upgrades is moderated by the current developmental stage of quantum computing, providing a window for preparation. However, the failure to migrate or update protocols in line with these recommendations could result in the same consequences as losing one’s private keys, underscoring the personal responsibility users bear in securing their assets against future technological shifts.