Coinbase Lays Out What It Wants From Bitcoin's Post-Quantum Upgrade

• Coinbase, which holds about 5% of all Bitcoin, published its views on Tuesday on how the network could move to quantum-resistant signatures.

• The exchange backed flexible output designs such as P2MR, proposed in BIP-360, and floated a transition design in which funds can be spent with either a classical or a post-quantum key.

• Coinbase called the post an input to an open discussion, not a final position, and said it would be useful to consider whether wallets that migrate late could still move funds.

Coinbase, which holds about 5% of all Bitcoin (

), set out on Tuesday what it would want from a move to signatures that can withstand quantum computers, including output designs flexible enough to add or replace post-quantum schemes later.

The post details what one of the world's largest crypto custodians would need from an upgrade to replace the signature schemes that a powerful enough

could break.

"It is intended as an input to an open discussion, not a set of instructions or a final Coinbase position," Coinbase's Shashank Agrawal wrote in the

.

Coinbase says it is preparing for risks posed by quantum computing. Source: CoinMarketCap

"Coinbase believes that Bitcoin will continue to be the most trusted crypto-currency in a post-quantum world, and we also recognize that the migration will be a challenging, complex, and multi-year process," the post said.