New Quantum-Safe Bitcoin Proposal Eliminates Taproot Key-Path

Recent developments among Bitcoin developers have revealed a significant proposal that has caught the attention of the crypto community. On February 11, a new output type known as Pay-to-Merkle-Root (BIP-0360) was added to the Bitcoin Improvement Proposals (BIPs) repository. However, it's important to clarify that this change does not come with an upgrade of the nodes nor is there a timeline for activation.

Despite the enthusiasm expressed on social media, particularly within crypto Twitter, the proposal has been met with skepticism, especially as it is not an emergency fix for quantum vulnerabilities as some might believe. The BIPs repository clearly states that the inclusion of a proposal does not imply immediate implementation or support.

The BIP-0360 aims to enhance Bitcoin's security against potential quantum threats by modifying how outputs are structured. One of the notable changes involves the removal of the key-path associated with Taproot, which has been a significant feature in Bitcoin's ongoing evolution. While the intention behind this proposal is to bolster security, it raises concerns among users due to the fact that it is designed to intentionally increase transaction fees.

This decision has sparked discussions within the community about the balance between security enhancements and the associated costs for users. As conversations continue regarding the implications of BIP-0360, stakeholders are encouraged to closely monitor the evolving landscape of Bitcoin and its ongoing improvements.