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Blockstream Paper Backs Hash-Based Signatures to Protect Bitcoin from Quantum Risk

Blockstream researchers Mikhail Kudinov and Jonas Nick proposed hash-based signatures to protect the $1.8 trillion Bitcoin blockchain from quantum computing threats in a revised paper on Dec. 5, BlockBeats reported on Dec. 12. The scheme's security aligns with Bitcoin's hash functions and is backed by cryptanalysis in NIST's post-quantum standardization process. The researchers estimate pre-2012 Pay-To-Public-Key wallets, including Satoshi Nakamoto's $980 billion holdings, hold about $6,000 billion and would face quantum threats first.
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