[Draft BIP] Quantum-Resistant Transition Framework for Bitcoin

The discussion on quantum-resistant solutions for Bitcoin has been enriched by the inclusion of NIST's Internal Report 8547, which is recommended reading for all stakeholders contemplating the transition to post-quantum cryptographic standards. This document provides pivotal guidance on the matter, underscoring the importance of preparing for a future where quantum computing could potentially compromise current encryption methods. The dialogue around this subject is critical, especially as the community explores the best paths forward.

A key aspect of the proposed changes involves the migration of pre-quantum Unspent Transaction Outputs (UTXOs). The current draft suggests freezing these outputs by 2033, a plan detailed in the "Migration Path: Phased Implementation" section available at https://quantum-resistant-bitcoin.bitcoin.foundation. This timeline, while based on the conservative side, aligns with NIST's advice to phase out ECDSA by 2035 but remains flexible. The flexibility is significant because it indicates a willingness to adapt the sunset period for pre-quantum UTXOs based on feedback from the Bitcoin community.

Moreover, the proposal includes a recovery mechanism for legacy UTXOs, ensuring they are not left vulnerable as the network transitions to quantum-resistant protocols. This approach balances the need to protect the network with the necessity of not disenfranchising users holding pre-quantum assets. The openness to community input on adjusting the timeline for the UTXO sunset policy reflects a collaborative effort to address the challenges posed by quantum computing thoughtfully and responsibly.