Market reports say that a U.S. regulated trading platform is arguing that Bitcoin should begin its post-quantum upgrade now, rather than wait until the quantum threat is imminent.
COIN is being discussed because quantum risk is making its way onto the institutional custody agenda. But this is more a case for migration than a business change that has already taken place.
Reports describe three steps: first adopt more flexible post-quantum signatures, then migrate in phases while remaining compatible with existing multiparty computation custody. The most difficult issues to address—what to do with dormant or lost coins—should be discussed separately, the reports suggest, to avoid holding up overall progress. They also say the platform holds about 5% of all Bitcoin, a figure that still needs to be verified by additional sources.
This is also where it’s easy to misread the situation: proposing a roadmap doesn’t mean an upgrade plan has been adopted, and certainly doesn’t directly imply a change in COIN’s revenue. If the most contentious issue of legacy coins is set aside for now, will migration move faster—or will that simply leave the conflict until the end?
COIN is being discussed because quantum risk is making its way onto the institutional custody agenda. But this is more a case for migration than a business change that has already taken place.
Reports describe three steps: first adopt more flexible post-quantum signatures, then migrate in phases while remaining compatible with existing multiparty computation custody. The most difficult issues to address—what to do with dormant or lost coins—should be discussed separately, the reports suggest, to avoid holding up overall progress. They also say the platform holds about 5% of all Bitcoin, a figure that still needs to be verified by additional sources.
This is also where it’s easy to misread the situation: proposing a roadmap doesn’t mean an upgrade plan has been adopted, and certainly doesn’t directly imply a change in COIN’s revenue. If the most contentious issue of legacy coins is set aside for now, will migration move faster—or will that simply leave the conflict until the end?