New wallet offers way to tackle Bitcoin’s quantum risk without a fork

TL;DR

Postquant Labs has launched Quip Network, a wallet that addresses quantum computing risks for Bitcoin without altering the network. It utilizes a smart contract layer and a post-quantum signature scheme called WOTS+ to enhance security.

Key points

Postquant Labs launched Quip Network wallet to tackle quantum risks
Wallet uses smart contract layer alongside Bitcoin without network changes
WOTS+ is a post-quantum signature scheme enhancing Bitcoin security
Layer 2 solution allows for added features without altering Bitcoin's base layer
Bitcoin community has delayed addressing quantum risks for years

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Postquant Labs

Developers behind a new wallet product say they have found a way to tackle quantum computing risks using a smart contract layer that runs alongside Bitcoin without requiring any change to the network itself.

Postquant Labs unveiled Quip Network's post-quantum bitcoin BTC$76,053.69 wallet Tuesday, the company told CoinDesk in an email. The product runs on Arch Network, a system that lets developers build smart contracts anchored directly to Bitcoin rather than on a separate chain or through wrapped tokens.

Quip uses that infrastructure to add a post-quantum signature scheme called WOTS+, short for Winternitz One-Time Signature, on top of Bitcoin's existing security. WOTS+ is a tested cryptographic technique that does not rely on the elliptic curve math a quantum computer could break.

By using a "Layer 2" — shorthand for a separate network built on top of Bitcoin that processes transactions and settles back to the main chain—developers can add features without changing Bitcoin's base layer.

"The Bitcoin community has delayed a fix for years, despite Satoshi himself discussing the quantum problem," Postquant Labs CEO Colton Dillion said in a statement to CoinDesk. "Developers say any protocol upgrade could take 5 to 10 years, but with Quip's approach, we provide similar protection immediately."

Bitcoin's quantum readiness

The launch arrives in the middle of an active fight over how Bitcoin should respond to quantum risk.

Prominent developer Jameson Lopp and five others proposed BIP-361 two weeks ago, which would phase out quantum-vulnerable addresses on a fixed five-year timeline and freeze coins that fail to migrate, including the roughly 1.1 million bitcoin attributed to pseudonymous creator Satoshi Nakamoto.

Paul Sztorc's controversial eCash hard fork would copy Bitcoin's chain and ship seven sidechains including a quantum-resistant one, funded partly by reassigning Satoshi-pattern coins on the new ledger to investors.

Both proposals have drawn pushback from the community.

Quip's pitch is that neither approach is necessary. The setup requires no soft fork, no consensus change, no community vote. A soft fork is a Bitcoin upgrade that tightens existing rules so older software still works, but it still needs broad miner and node support to activate. Bitcoin's last . The next one, if it happens, could take years.

Q&A

What is the Quip Network wallet and how does it work?

The Quip Network wallet is a product by Postquant Labs that uses a smart contract layer to enhance Bitcoin's security against quantum computing threats without changing the Bitcoin network.

What is WOTS+ and why is it important for Bitcoin security?

WOTS+, or Winternitz One-Time Signature, is a post-quantum signature scheme that enhances Bitcoin's security by providing a cryptographic method that is resistant to quantum attacks.

How does the Quip Network wallet differ from traditional Bitcoin wallets?

Unlike traditional Bitcoin wallets, the Quip Network wallet operates on a Layer 2 solution, allowing it to add advanced security features without modifying Bitcoin's base layer.

What are the implications of quantum computing for Bitcoin?

Quantum computing poses a significant risk to Bitcoin's security, as it could potentially break the elliptic curve cryptography that underpins Bitcoin transactions, threatening the integrity of the network.