BTQ Technologies has released version v0.3.0 of the Bitcoin Quantum testnet. The key innovation is the first operational implementation of BIP-360—the P2MR standard, designed to protect transactions from quantum computer attacks.
Although BIP-360 is already included in the official repository of Bitcoin improvement proposals, work on it in the Bitcoin Core client is virtually non-existent. BTQ has outpaced the main network by turning a theoretical proposal into working code.
The Essence of the Update
BIP-360 addresses a vulnerability in Taproot, which exposes public keys on the blockchain. This makes them potentially vulnerable to Shor’s algorithm on quantum computers in the future.
The new P2MR output type allows the use of Taproot scripts (necessary for Lightning Network, BitVM, and Ark) but removes the possibility of key-path spending. Instead, the system records commitments in the root of the Merkle tree without using a private key. The update also activates post-quantum Dilithium signatures—a standard approved by the NIST.
Infrastructure and Plans
Developers have introduced a fully functional CLI wallet. Users can now create, sign, and send P2MR transactions in the testnet.
BTQ Technologies shared testnet activity metrics:
- more than 50 miners have joined the network;
- over 100,000 blocks have been mined;
- block time has been reduced to 1 minute to speed up testing.
The company’s CEO, Olivier Roussy Newton, noted that the industry cannot afford to wait for a crisis to begin testing. Bitcoin Quantum was created as a testing ground to verify protection before the quantum threat becomes real.
The company also revealed monetization plans: launching a mining pool with a 3% fee and accumulating BTQ tokens on the corporate balance sheet.
Back in March, Galaxy Digital’s head of research, Alex Thorn, stated that fears regarding the first cryptocurrency network being compromised by quantum computers are greatly exaggerated.