BlockBeats News, April 16, in response to yesterday’s proposed BIP-361 “Quantum Freeze” scheme, BitMEX Research released a research article stating that this “one-size-fits-all freeze” would have a significant impact, potentially disrupting the market and user assets before a real quantum threat has emerged.
The article also proposes an alternative solution, which is to first enter a “Canary Watch State” five years later: a special “Canary Fund” address is set on-chain in advance, and it is proven in a special way that no one holds its private key. As long as this address remains untouched, it indicates that a real quantum computer capable of stealing Bitcoin has not appeared yet, and bitcoins in quantum-vulnerable addresses can still be used normally; only when a transaction successfully moves funds out of this address on-chain will it signal that a quantum attack poses a practical threat, triggering the immediate activation of the freeze mechanism.
