A new Bitcoin Improvement Proposal introduces SHRINCS, a post-quantum signature scheme aimed at protecting Bitcoin from future quantum computing threats.
Blockstream has published a Bitcoin Improvement Proposal (BIP) for SHRINCS, a post-quantum signature scheme designed to secure Bitcoin against potential quantum computing attacks. The scheme has been tested on Blockstream’s Liquid sidechain, marking a step toward quantum-resistant blockchain infrastructure.
Current post-quantum signature schemes endorsed by the National Institute of Standards and Technology (NIST) are significantly larger than Bitcoin’s existing ECDSA and Schnorr signatures, potentially reducing transaction speeds to a fraction of one transaction per second (TPS). SHRINCS aims to balance security and efficiency, though it is not considered a final solution.
Scientists warn that advanced quantum computers could eventually reverse-engineer private keys from public keys, jeopardizing Bitcoin’s security. The proposal reflects broader efforts to future-proof cryptocurrencies against such threats.