Bitcoin Activity Drops as Quantum Defense Debate Intensifies

Bitcoin active addresses are at year lows, with developers scrambling to quantum-resistant solutions. BIP-360 makes the network future-proof against cryptographic threats.

The on-chain activity of Bitcoin keeps dropping. Active addresses are now the lowest since December 2024. The network also has fewer transactions when the price fluctuations are volatile.

As CryptoPatel on X notes, Bitcoin wallets involved in transactions have turned to multi-year lows. The crypto analyst pointed out that the price action does not seem to be related to the real usage volume. Reduced activity is a common indicator of slowdown periods in the market.

Source –CryptoPatel 

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Will Quantum Computers Doom Bitcoin’s Future?

An increasing number of supporters are agitating toward quantum-resistant upgrades. Capriole founder Charles Edwards said that the implementation should be completed and implemented in 2026. The fund manager cautioned that quantum hackers can compromise 20-30% of Bitcoin.

The most successful proposal has become BIP-360. The enhancement would add post-quantum signature choices on vulnerable addresses. It needs more diffuse acceptance among hardware wallet vendors, node operators, and cryptocurrency exchanges.

Source : Edward

Edwards was controversial on X. He proposed to burn all coins that do not switch to BIP-360 by 2028. This caused intense controversy in society.

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Industry Leaders Dismiss Immediate Quantum Threat

The urgency is not shared by all. Adam Back, CEO of Blockstream, attacked quantum fear participants on X. He noted that Bitcoin does not make use of encryption. Back also added that the quantum computing threat is decades off.

Early quantum concerns were also mocked by Samson Mow of Jan3. On X, Mow tweeted: “Quantum computing can not even factor 21. He asked panic selling about the remote hypothetical risks.

Analyst Willy Woo of X wrote that the Taproot utilization had decreased to 20 to 42 percent in 2024. Woo asserted that he had never before witnessed the newest format being pushed out. He wrote that Taproot is vulnerable to quantum, and older formats are not.

Tim Ruffing of Blockstream Research had a different opinion. His research paper held that Taproot with script-path spends alone is post-quantum secure. Based on the results, a quantum attacker is unable to peep inside Taproot outputs.

Back suggested replacing ECDSA and Schnorr signatures with hash-based signature schemes, which are quantum-safe. The method would be based on the assumptions of hash functions. The paper was published on December 5 by Blockstream Research.

The network has a complicated transition to come. The participants of the market are arguing about the timeline and urgency. The future safety of Bitcoin is left between safety and exploration.

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