Changpeng Zhao proposed freezing Satoshi's bitcoins: protection against quantum threats
Binance founder Changpeng Zhao has put forward a radical initiative that could change the fate of the oldest bitcoins. He proposes giving the owner of Satoshi Nakamoto's wallets 12 months to move the coins into a protected format. If the funds remain inactive, they should be frozen permanently.
Quantum Threat to Early Wallets
The essence of Zhao's proposal is tied to the development of quantum computing. In his assessment, inaction on this matter is extremely dangerous. When quantum computers reach a certain level of power, attackers will be able to crack old wallets using the outdated Pay-To-Public-Key (P2PK) format. This format fully exposes the public key, making it vulnerable to quantum attacks.
Zhao emphasizes: if nothing is done now, the coins will effectively go to whoever cracks them first. His idea is to create a one-year time window so that owners can transfer their funds to more secure addresses. Otherwise, after the deadline, these bitcoins will be permanently locked in the protocol.
Similar Idea from Ava Labs Founder
Interestingly, a similar proposal was previously put forward by Ava Labs CEO Emin Gün Sirer. He also pointed out the danger of quantum computing for older technologies. In his view, wallets from the Nakamoto era using P2PK are under direct threat. Sirer noted that modern systems, including Avalanche, no longer use this format, but early bitcoins remain unprotected.
Sirer proposed either freezing Satoshi's coins or setting a deadline for their transfer. He also noted that a quantum attacker has only a small window of opportunity, which complicates their task but does not make it impossible.
Expert Opinion
Zhao's initiative is a preventive measure that could prevent a catastrophe for the market. If quantum computing truly threatens old wallets, then freezing Satoshi's 1 million BTC is not censorship, but protection of the entire network's integrity. However, such a step will inevitably spark debates about decentralization and the community's right to manage others' assets. The market should closely monitor the development of this discussion: if it gains support, we may see one of the most significant changes to the Bitcoin protocol in its entire history.