Binance founder Changpeng Zhao has suggested that Bitcoin addresses which have remained inactive for years—including those reportedly linked to Satoshi Nakamoto—could be frozen in the future to guard against potential quantum computing threats. According to Zhao, such a step would only be considered after a quantum-resistant upgrade and with clear support from the Bitcoin community.
Proposed response to the quantum threat
On the June 18 episode of the Galaxy Brains podcast hosted by Alex Thorn, Zhao acknowledged that quantum computing currently poses only a theoretical risk to Bitcoin, but one that cannot be ignored. He noted that quantum-resistant cryptographic systems already exist, underlining the need for vigilance.
At the heart of Zhao’s proposal is a network-wide migration process. Users would have a 6–12 month window to move their assets to more secure, upgraded addresses. Once this window closes, the old addresses would be gradually retired, and any balances left unmoved could be locked under the updated protocol.
Mini glossary: ECDSA and Schnorr are digital signature methods used to prove control over Bitcoin addresses. Should quantum computers become powerful enough, these traditional cryptographic techniques may eventually be weakened.
Zhao warned that if these dormant wallets remain unprotected, the first party to break into them could take their coins. In his view, this would unjustly reward technical capability rather than the rightful owner, distorting fair distribution within the network.
Changpeng Zhao emphasized that such a decision cannot be made by one person alone, stating that this outcome would reward technical skill—not ownership—and would fail to protect the true owner.
Consensus required for implementation
Zhao’s comments do not constitute an accepted roadmap within the Bitcoin protocol. As with any significant network change, consensus among developers, miners, node operators, and the broader user community would be essential for such a proposal to move forward.
Coinbase—the largest US-based crypto exchange mentioned in the article—recently advised in a June report that advance preparations should be made against quantum risk. The report stated that quantum computers pose no immediate threat to Bitcoin, but stressed that planning ahead could minimize future disruptions should that risk ever materialize.
The report, which included input from Ethereum Foundation researcher Justin Drake, also proposed a transition schedule for coins protected by ECDSA and Schnorr signatures. According to the findings, legacy addresses left unmoved could facilitate attacks resulting in substantial asset losses and market instability.
| Topic | Zhao’s proposal | Coinbase report |
|---|---|---|
| Timeline | 6–12 month migration window | Call for advance preparation |
| Goal | Protect dormant balances from malicious access | Reduce risk arising from legacy cryptography |
| Status | Theoretical proposal | Preparation report |
Ownership and immutability concerns spark debate
Critics argue that making dormant coins unspendable could be seen as interference with private property. Objections have focused on the belief that such measures would undermine Bitcoin’s core principles of immutability and user autonomy.
Alex Thorn previously asserted that, regardless of technological advances, coins believed to belong to Satoshi Nakamoto should never be touched.
Alex Thorn remains a prominent voice against the freezing proposal. In May, he stated that Satoshi’s coins should remain untouched and noted that many Bitcoin developers and advocates share this position.
For now, the Bitcoin network has not adopted any transition plan for a post-quantum environment, nor has any specific timeline been set. The debate touches on fundamental issues such as security, property rights, and network governance.
