[DigitalToday reporter Yoonseo Lee] Legendary investor Samson Mow (샘슨 모우), known as a Bitcoin (BTC) supporter, warned that rushing Bitcoin’s shift to quantum resistance could backfire.
Coinpost, a blockchain media outlet, reported on Sunday that Mow posted on X, formerly Twitter, that a phased approach is important.
He took issue with calls for Bitcoin to move quickly from its current ECDSA and Schnorr signatures to post-quantum (PQ) signature methods. Mow said PQ signatures could increase data size by 10 to 125 times compared with current methods. Larger signature data would increase the space taken by transactions and could lead to lower network throughput, he said.
Mow also raised concerns that a race for speed could undermine security. He warned against becoming more vulnerable in conventional computing environments in a rush to defend against quantum computers. If standards are changed quickly on the assumption of only quantum attacks, implementation and operational risks that have not been sufficiently verified could materialise first, he argued.
He also cited reliability concerns around some PQ solutions. He mentioned the possibility that certain solutions could include a random number generator (RNG) backdoor, noting a precedent in which the U.S. National Security Agency (NSA) used a similar case that was later confirmed by Edward Snowden’s disclosures.
Still, he said there are issues that need fixing now. Mow said Coinbase’s wallet infrastructure is exposed to quantum risk due to address reuse, and said vulnerabilities arising from operating practices should be addressed before sweeping transition discussions.
Mow said he agrees with research to prepare, based on the view that practical quantum computers are still 10 to 20 years away. But he warned that if PQ signatures significantly increase data, it could reignite fresh conflict over block size, raising the possibility of a repeat of the 2010s “block size debate” that split the industry.
Coinbase CEO Brian Armstrong (브라이언 암스트롱) said at the start of the month that he would personally devote time to the issue and lead a solution. Coinbase is discussing transition standards by setting up a “quantum advisory committee” with participants including Bitcoin Core developers.
It’s been almost 10 years since the Blocksize Wars ended and Brian hasn’t changed at all. He still carries the exact same complete lack of humility and understanding. Brian forms the opinion first, along with a prescribed course of action and timeframe, instead of starting by… https://t.co/Ti7QV63e7P