Goodbye Bitcoin: A general framework for migrating to quantum-secure cryptocurrencies

Abstract

Quantum computing is the primary concern against security and privacy issues; And it is known that no digital assets have provable ownership in the post-quantum age. As a digital asset or investing method, cryptocurrencies are not far from this fact. This study presents a practical and comprehensive framework to secure current cryptocurrencies against quantum computers by offering a hard fork. The currently-using cryptocurrencies can apply the mentioned hard fork for providing security in the post-quantum age. To keep the currencies’ previous values in their post-quantum forks, the mentioned hard fork is designed based on a 1-to-1 proof of burn (PoB) consensus: a hash function and hash-based signature as two quantum-secure tools, are applied to prepare the migration to the quantum-secure fork. For example, and to show that the hard fork works, the quantum-secure fork of Bitcoin (QBTC) will be presented and analyzed in the heuristic form.