Author: Russell O'Connor 2022-03-11 13:47:14
Published on: 2022-03-11T13:47:14+00:00
In an email conversation, Jorge Timón and others discussed the idea of forced signalling in Bitcoin, which was championed by luke-jr. However, the proposal did not get broad consensus due to concerns that it might risk taking a significant fraction of mining power offline if deployed. Taproot is another topic that was discussed, with users having the option to opt out of it by not using it or enforcing it. Quantum computing concerns were also raised, with the argument being made that people should move their funds off of taproot and other reused addresses if they are worried about quantum security. A recent paper suggests that millions of physical qubits would be needed to break EC in a day with current error correction technology. Nonetheless, there is still a small possibility for recovery if taproot were suddenly banned as one can prove ownership of HD pubkeys by providing a zero-knowledge proof of the chaincode used to derive them.
Updated on: 2023-06-15T17:56:33.175247+00:00