Changpeng Zhao proposes freezing Satoshi's bitcoins: salvation from the quantum threat or a blow to decentralization?
Binance founder Changpeng Zhao (CZ) has made a radical proposal: give Satoshi Nakamoto 12 months to move his bitcoins, then freeze them forever. This statement, made in the context of preparations for a quantum network upgrade, has sparked a heated debate in the crypto community.
CZ's idea is to protect vulnerable digital assets before quantum computers can crack them. He warns that inaction on this issue is equivalent to leaving the coins to their fate. Once quantum computing reaches the necessary level, these funds will become easy prey for attackers. As a result, he says, only about 20 million coins will remain in the new protocol, with the rest being locked up.
Quantum threat and vulnerable wallets
This refers to wallets from the early period of Bitcoin that use the Pay-To-Public-Key (P2PK) format. This format fully exposes the public key, making them extremely vulnerable to attacks using quantum computers. Traditional encryption methods lose their effectiveness in this case. The one-year window, according to Zhao, is intended to give owners of inactive coins the opportunity to transfer them to a secure format.
Notably, a similar proposal was previously put forward by Ava Labs CEO Emin Gün Sirer. He also believes that quantum computing poses a serious danger to outdated technologies. Sirer noted that a quantum attacker has only a small window of opportunity, which complicates their work but does not make the threat any less real.
Sirer emphasized that modern wallets and systems, such as Avalanche, do not use P2PK, but in the early days of Bitcoin, this format was used everywhere. Therefore, in his opinion, when quantum computing becomes a real threat, the community should consider freezing Satoshi's coins or setting a deadline for transferring all funds from P2PK addresses.
Expert opinion: CZ's initiative certainly raises an important question about the future security of Bitcoin. However, its implementation faces a fundamental contradiction: how to freeze coins without violating the key principle of decentralization and blockchain immutability? Any forced action against assets, even with good intentions, creates a dangerous precedent. Instead of radical measures, the community should focus on developing and implementing quantum-resistant cryptographic algorithms that will allow owners of old wallets to migrate voluntarily and safely. Otherwise, an attempt to "save" the network could cause it irreparable damage.