“No quantum computer can break blockchain cryptography right now,” the council wrote. “But timelines are uncertain, and the crypto community needs to start preparing now rather than debating exactly when the threat will arrive.”
According to the advisory council, the issue could affect millions of Bitcoin sitting in legacy addresses where public keys are already exposed, making them directly vulnerable to a future quantum attack.
The report outlines three options for coins that don’t migrate to quantum-safe addresses. First, permanently freeze (or burn) them after a deadline. Second, do nothing and let users decide, adding that “forcing coins to be burned overrides property rights and sets a precedent for network-level interference that conflicts with Bitcoin's core principles.” Third, use middle-ground steps like limiting how many vulnerable coins can move per block or accepting special cryptographic proofs in place of legacy signatures, and let users “pre-commit to migrations without publicly moving funds yet.”
“We stress that the above proposals are compatible with each other; there is no reason to not adopt more than one or all of them, since each has its own advantages,” they wrote.
The debate comes as major blockchain networks begin preparing for a post-quantum future.
“The right time to prepare for a cryptographic transition is before it becomes urgent,” a Coinbase Advisory Board spokesperson previously told Decrypt. “Our view is that customer assets are safe today, but the industry should not confuse ‘not imminent’ with ‘not important.’”
