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Coinbase Calls for Early Bitcoin Migration to Quantum-Resistant Signatures

A position paper from Coinbase argues the Bitcoin ecosystem must begin preparing for quantum computing threats well before capable machines emerge.

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Coinbase published a position paper outlining the need for the Bitcoin network to transition toward quantum-resistant signature schemes. The exchange, which holds roughly 5 percent of all circulating Bitcoin on behalf of institutional clients like banks and hedge funds, noted that consensus updates and ecosystem migrations can take years to implement and must start well before cryptographically relevant quantum computers exist.

While current quantum hardware remains below 1,000 qubits and cannot break existing cryptographic schemes, the paper references Google research projecting that capable machines could potentially appear around 2029. The document does not propose a specific deadline or activation schedule, but instead urges the community to initiate technical preparations.

As a technical path forward, the proposal focuses on decoupling Bitcoin transaction outputs from specific signature mechanisms. It highlights BIP-360, also known as Pay-to-Merkle-Root, which enables new signature methods to be introduced without altering output structures. The paper also mentions P2TRv2 as an alternative, though it views that proposal as less mature, with both concepts remaining in draft status.

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