Michael Saylor on Quantum Computing's Impact on Bitcoin Security
According to Michael Saylor, quantum computing will "harden" Bitcoin, upgrading the network and increasing security. He suggests that active coins will migrate, and lost coins will remain frozen, ultimately strengthening Bitcoin. However, the technical reality presents a more complex picture. While quantum computing poses a threat to Bitcoin's digital signatures, defensive tools like ML-DSA and SLH-DSA are being developed. A realistic migration to these tools could improve security against quantum threats but may also reduce block capacity and increase transaction fees. The challenge lies in achieving consensus among developers, miners, exchanges, and holders for a soft fork upgrade. Approximately 25% of all Bitcoin is already in outputs with publicly revealed keys, making them vulnerable.
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