A Post Quantum Migration Proposal

The email presents a critical analysis of a proposed migration plan for Bitcoin in response to the quantum threat, highlighting significant concerns with the forced sunset approach outlined in Phase B. The sender critiques this approach for potentially violating Bitcoin's social contract by forcibly rendering coins un-migratable within a specific timeframe, thus changing Bitcoin's value proposition. There is also a mention of the "25% Problem," where approximately 5.25 million BTC with exposed public keys could become unspendable, leading to massive economic disruption. Concerns extend to the implementation timeline, which is optimistically set at 5+ years but could realistically extend to 7-10 years, risking a misalignment with the quantum threat timeline projected between 2027 and 2030.

In proposing an alternative, the email introduces Supernova, a Bitcoin-inspired blockchain that incorporates quantum resistance from its inception. Supernova's strategy includes a dual-signature scheme allowing for three modes of operation: Legacy Mode (ECDSA signatures only), Transition Mode (requiring both ECDSA and quantum signatures), and Quantum Mode (quantum signatures exclusively). This method ensures users are never locked out of their funds, supports gradual voluntary migration, maintains backward compatibility, and provides immediate protection for those opting into quantum security measures.

The email outlines key innovations of the Supernova project which may be of interest to the Bitcoin community. These include hybrid signatures blending classical and quantum cryptography during the transition phase, address format compatibility allowing users to select their desired security level per transaction, independent user migration without the need for ecosystem-wide coordination, and the successful deployment of a quantum-resistant Lightning Network.

Concluding, the sender invites collaboration rather than competition, suggesting that Supernova could serve as a practical testbed for quantum migration strategies. The project has already implemented notable advancements such as NIST-standardized quantum-resistant algorithms, quantum-resistant atomic swaps with Bitcoin, a full quantum-secure Lightning Network, and zero-knowledge proofs for enhanced privacy. With an open-source codebase and an upcoming public testnet launch, the sender encourages feedback from the Bitcoin community, emphasizing the urgency of addressing the quantum threat through diversified approaches to safeguard the future of decentralized money.