Changpeng Zhao proposes freezing Satoshi's bitcoins: protection against the quantum threat
Binance founder Changpeng Zhao has proposed a radical initiative that could change the rules of the game for the entire Bitcoin ecosystem. He suggested giving the cryptocurrency's creator, Satoshi Nakamoto, 12 months to move their coins before the upcoming quantum upgrade of the network. If the assets remain untouched, they should be frozen permanently.
According to Zhao's estimates, only about 20 million BTC would remain in the new protocol, as the rest would be locked up. This is a direct consequence of the proposed freeze on inactive wallets, which he believes represent a "time bomb" for network security.
Protection from the quantum threat
Zhao warns that inaction on this issue is extremely dangerous. If nothing is done, the coins will effectively fall into the hands of whoever hacks them. Once quantum computing reaches the necessary level, the outdated encryption methods used in early wallets will become vulnerable.
This concerns wallets from Bitcoin's early period, which are considered the most vulnerable. The development of quantum computers threatens traditional encryption methods, and this is precisely what prompted Zhao's proposal. The idea is to protect vulnerable digital assets before they become accessible to attackers. The one-year window, according to Zhao, would give the owner of inactive coins the opportunity to transfer them to a secure format.
A similar idea was proposed in 2024
A similar proposal was previously put forward by Ava Labs CEO Emin Gün Sirer. He also believes that quantum computing could pose a danger to outdated technologies. Wallets from Nakamoto's active period use the Pay-To-Public-Key (P2PK) format, which fully exposes the public key, making them particularly vulnerable.
Sirer noted that quantum computing would simplify certain operations, such as number factorization, while other tasks would remain equally complex. However, in his assessment, a quantum attacker has only a small window of opportunity for an attack, which complicates their work. He emphasized that modern wallets and systems, such as Avalanche, do not use P2PK, but it was used in Bitcoin's early days. Therefore, in his opinion, when quantum computing becomes a real threat, the community should consider freezing Satoshi's coins or setting a deadline and freezing all coins in the P2PK format.
Analyst's opinion: Although Changpeng Zhao's initiative appears radical, it raises a critically important question about Bitcoin's long-term security. Freezing Satoshi's assets is not just a technical solution, but a precedent that could change the very philosophy of blockchain immutability. However, in the face of the growing quantum threat, this may be the only way to prevent a catastrophic scenario where millions of BTC end up in the hands of attackers. The community will have to make a difficult choice between the principles of decentralization and practical security.