In a proposal published on October 14, Coinbase outlined what it sees as necessary steps for the Bitcoin network to remain secure as quantum computing advances. The exchange, which according to the article holds an estimated 5% of all Bitcoin in circulation, is advocating for changes to the network's address system to allow for flexible addresses that can be updated, and for a separate backup key that would be resistant to quantum attacks.
Coinbase also suggests that the community should begin a separate debate about lost coins, a category that includes Bitcoin sitting in wallets whose private keys have been lost or destroyed. The proposal does not specify how such coins should be handled, but raises the issue as part of a broader conversation about quantum readiness.
The article notes that the timeline for when quantum computers could pose a practical threat to Bitcoin's cryptographic foundations remains uncertain, but Coinbase argues that preparation should begin now rather than later. The exchange's large holdings give it significant weight in any discussion about changes to the Bitcoin protocol.