BIP-0360 P2MR: Bitcoin proposal dey remove Taproot key-path to reduce long-term quantum risk
Bitcoin devs don publish BIP-0360 (Pay-to-Merkle-Root, P2MR), na draft wey link outputs to script-tree Merkle root and e remove Taproot key-path spending option. Under P2MR, all spends must use the script path and show the script wey dem run plus Merkle proof; Taproot-style Tapscript and script-tree features still dey supported. The design dey try reduce long-exposure quantum key-recovery risk from public on-chain public keys, but e mean bigger on-chain size and higher fees (P2MR outputs about 103 bytes minimal; witness sizes about 37 bytes bigger than Taproot key-path spends) and less privacy because script-path spends dey exposed. P2MR mainly protect against long-duration attacks by future cryptographically relevant quantum computers (CRQC) but e no protect against short-window mempool attacks wey require stealing private keys before confirmation — you go need post-quantum signatures for that. Activation na opt-in, e go need wallet and library support, community review and wide testing, and fit introduce new bech32m address prefix (likely bc1z); current Taproot (bc1p) outputs no go change. No node don implement P2MR and no deployment timeline dey. Co-author talk emphasize minimal, opt-in changes and clearer user communication on quantum readiness. For traders: the proposal show say people still dey focus on futureproof Bitcoin against quantum threats but e increase per-transaction costs and reduce some privacy; short-term market impact limited without deployment or standards for post-quantum signatures.
Neutral
BIP-0360 (P2MR) na teknikal, opt‑in proposal way e dey change how outputs dem build to reduce long‑term quantum risk, but e go increase on‑chain size, fees, and e go show say script dey used. As e be draft wey no get implementation or activation timeline, e no too likely say e go cause immediate BTC price movement. Traders fit include the proposal for long‑term risk story about Bitcoin quantum readiness, but adoption go need wide wallet/library support, community consensus and maybe new address formats — na process wey fit take many years. Short term: neutral impact because the change no mandatory and rollout never near. Medium/long term: mixed effects — institutions or privacy‑sensitive users fit adopt P2MR for perceived quantum safety, wey go small‑small raise fee demand on certain outputs; on the other hand, higher fees and lower privacy fit slow adoption. Overall, until deployment or clear shifts to post‑quantum signatures happen, market stability and price drivers dey governed by macro factors rather than this proposal alone.