Changpeng Zhao proposed freezing Satoshi's bitcoins: protection against quantum threats or a blow to decentralization?
Binance founder Changpeng Zhao has made a resonant proposal: to give Satoshi Nakamoto exactly 12 months to move their bitcoins. If the coins remain unmoved, Zhao suggests freezing them forever. This initiative, in his view, would be a critical protective measure against the impending quantum threat.
According to Zhao's estimates, if his scenario is implemented, only about 20 million coins would remain in circulation, as the rest would be locked. This refers to inactive wallets from the early period of Bitcoin, which he believes are the most vulnerable. He warns that inaction on this issue is dangerous. Once quantum computing reaches a certain level, these coins will effectively go to whoever can hack them.
The idea is to protect digital assets before they become easy prey for attackers. The one-year window, as Zhao envisions it, would give owners of inactive coins the opportunity to transfer them to a secure format. Otherwise — a permanent freeze.
Similar initiative from Ava Labs
Notably, a similar proposal was previously put forward by Ava Labs CEO Emin Gün Sirer. He also pointed out the quantum danger to outdated technologies.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 potentially vulnerable to quantum attacks.
Sirer noted that modern wallets and systems, such as Avalanche, do not use P2PK, but in the early days of Bitcoin, it was used everywhere. In his view, when quantum computing becomes a real threat, the community should consider freezing Satoshi's coins or setting a deadline for transferring all coins in the P2PK format.
Expert opinion: Zhao's proposal certainly raises an important question about network security in the era of quantum computing. However, the idea of forcibly freezing assets, even inactive ones, contradicts the very spirit of decentralization and blockchain immutability. This sets a dangerous precedent where key industry figures can influence the fate of coins that may belong to real people who have lost access to them. Instead of freezing, the community should focus on developing and implementing quantum-resistant cryptographic algorithms, which is the only truly decentralized solution to the problem.