A Post Quantum Migration Proposal

The recent advancements in scientific and engineering fields have significantly shifted the perspective on the feasibility of Cryptographically Relevant Quantum Computers (CRQCs), leading to a widespread consensus within quantum and cyber communities about their eventual arrival. This shift has prompted various sectors, including regulators, governments, banks, insurers, and the media, to actively engage in preparing for the quantum future. Such preparations are evident through the issuance of quantum readiness roadmaps, initiation of programs aimed at addressing quantum risks, and increasing discussions about quantum readiness in financial earnings calls, which in turn boosts public awareness and concern regarding the quantum threat to technologies like bitcoin.

In response to the growing concerns over how bitcoin can withstand the quantum threat, a proposed Bitcoin Improvement Proposal (BIP) has gained attention for its potential to address these challenges. Alongside BIP-360, this proposal outlines a strategy for enhancing bitcoin's resistance to quantum attacks. The strategy comprises three critical discussions: firstly, the technical resolution of Phase C (Post-Quantum Legacy Recovery) for affected BIP-39 wallets, which presents a relatively straightforward solution; secondly, the need for increased cryptographic agility to adapt more seamlessly to quantum advancements; and thirdly, a philosophical debate on how to manage legacy non-HD wallets, weighing the options between rendering them inaccessible or allowing them to be compromised.

This proactive approach towards quantum readiness underscores the importance of not only anticipating the impact of quantum computing on existing cryptographic standards but also actively developing and implementing solutions to mitigate potential threats. As the discourse around CRQCs evolves, it becomes crucial for stakeholders in the bitcoin community and beyond to partake in these discussions and contribute to shaping a quantum-resistant future.