Coinbase Urges Early Work on Bitcoin’s Post-Quantum Transition

Insider Brief

• Coinbase urged early preparation for Bitcoin’s transition to quantum-resistant security, citing the years needed to update network rules and migrate funds.
• The company called for evaluating signature systems that balance security, transaction costs, wallet usability and institutional custody requirements.
• Coinbase said debates over dormant or inaccessible coins should proceed alongside technical work so they do not delay quantum-resistant protections.
• Image: Photo by PiggyBank on Unsplash

Coinbase says Bitcoin should begin preparing for quantum computing threats before a machine capable of breaking its cryptography is announced.

In a blog post outlining its technical priorities, the cryptocurrency exchange and custodian said protecting Bitcoin will require more than selecting a new digital signature system. The transition must also work for ordinary wallets and institutional custody, limit demands on the network and address funds whose owners cannot or will not move them.

Coinbase described the migration as a complex, multiyear undertaking. Changes to Bitcoin’s shared rules and the movement of funds across its ecosystem can take years making advance preparation important even before the threat becomes certain, according to the post.