AmericanFortress Proposes Quantum-Safe Wallet Protection Solution, No Fund Transfer or Address Change Required

On July 29, according to Cointelegraph, blockchain security company AmericanFortress has proposed a cryptographic scheme that can protect existing cryptocurrency wallets from future quantum attacks without requiring users to transfer funds, rotate keys, or change wallet addresses. The scheme, detailed in a technical paper published on the Cryptography ePrint Archive, is compatible with seed-level deterministic wallets based on elliptic curve cryptography, such as those used by Bitcoin, Ethereum, and Solana. It utilizes zero-knowledge proofs based on the wallet's original mnemonic phrase instead of replacing existing elliptic curve cryptography. Participating nodes verify these proofs, and users continue to sign transactions with their existing keys. AmericanFortress cited a Bloomberg analysis stating that up to $470 billion in Bitcoin could be at risk if sufficiently powerful quantum computers become available.