Bitcoin Contributors Propose BIP-361 for Quantum-Resistant Addresses

Bitcoin contributors have introduced BIP-361, a draft proposal aimed at enhancing security by requiring holders to transfer funds to quantum-resistant addresses. According to NS3.AI, this initiative addresses the vulnerability of approximately 6.7 million BTC currently held in legacy-wallet addresses as of March. The proposal outlines a three-phase migration process. Initially, old-style addresses would cease to receive bitcoin, followed by the invalidation of spending signatures after activation.