Bitcoin's quantum risk has been a topic of discussion among experts and investors, but according to Grayscale head of research Zach Pandl, the biggest obstacle is not finding a technical solution, but rather getting the community to agree on one.
Pandl notes that Bitcoin carries lower quantum risk than most other cryptocurrencies due to its unique UTXO model and proof-of-work consensus. However, there are still 1.7 million BTC in early P2PK addresses where private keys are lost or inaccessible.
The community is considering three options: burning the coins, deliberately slowing their release by rate-limiting spending from vulnerable addresses, or doing nothing. Pandl emphasizes that all options are conceptually doable, but reaching a decision will be the challenge.
Jan3 founder Samson Mow also weighed in on the issue, warning against rushing post-quantum cryptography adoption due to potential consequences such as reduced network throughput and increased exposure to present-day threats. He suggests that preparation should continue at a steady pace, rather than accelerating the transition.