Coinbase Pioneers Bitcoin Post-Quantum Security

Introduction

Coinbase, which safeguards 5% of all Bitcoin for clients including banks, asset managers, and hedge funds, wants the network to begin preparing for quantum security.

The Threat of Quantum Computing

A sufficiently capable quantum computer could change the way Bitcoin transactions are secured, potentially allowing an attacker to spend vulnerable coins.

Coinbase's Recommendations

Coinbase outlines technical considerations for Bitcoin's transition to post-quantum security, including the use of flexible transaction outputs and staged protection.

Implementation and Adoption

The exchange calls for consistent verification across platforms, protection against timing leaks, and resilience if the random-number generator used in signing fails.

Dormant and Lost Bitcoin

Coinbase warns that a covert attacker with a CRQC could target vulnerable coins before the capability becomes public.

Conclusion

Coinbase's recommendations aim to ensure that Bitcoin's post-quantum security is implemented in a way that is secure, efficient, and adaptable to changing technology.