Changpeng Zhao proposes permanently freezing Satoshi's bitcoins: protection against quantum threats
Binance founder Changpeng Zhao has put forward a radical initiative that could change the very structure of Bitcoin. He proposed giving the network's creator, Satoshi Nakamoto, exactly 12 months to move their coins. If the funds remain untouched within this period, they would be permanently frozen. This statement, made in the context of preparing for a quantum upgrade of the network, has sparked a heated debate in the crypto community.
A 12-Month Ultimatum
According to Zhao's plan, only about 20 million coins would remain in the new protocol, as the rest would be locked. This refers to inactive wallets, which he believes represent a "time bomb." If nothing is done, with the advancement of quantum computing, these funds would effectively fall into the hands of whoever can hack them. The proposed one-year period is an opportunity for owners of old coins to transfer them to a secure format before the technology makes them vulnerable.
Quantum Threat: Reality or Fantasy?
Zhao warns that inaction on this issue is deadly for the ecosystem. Once quantum computing reaches a certain level, early Bitcoin wallets using the Pay-To-Public-Key (P2PK) format will become easy prey. This format fully exposes the public key, making it vulnerable to attacks using quantum algorithms, such as Shor's algorithm.
Precedent from Ava Labs
Notably, a similar idea was proposed in 2024 by Ava Labs CEO Emin Gün Sirer. He also pointed out the danger of quantum computing for outdated technologies. Sirer noted that modern systems, such as Avalanche, do not use P2PK, but in the early days of Bitcoin, it was widely used. In his opinion, the community should either freeze Satoshi's coins or set a deadline for their transfer to protect the network from the inevitable quantum threat.
Expert opinion: Zhao's initiative, although radical, raises a critically important question about the long-term security of Bitcoin. However, freezing Satoshi's coins is not a technical but a political decision that could violate the principle of blockchain immutability. I believe that instead of forced locking, the community should actively promote migration to quantum-resistant algorithms, such as lattice-based signatures. Only a voluntary and conscious upgrade will preserve decentralization and trust in the network without resorting to a "great freeze."