Innovation doesn't require changing Bitcoin's base layer. Drivechains (BIP300/301) let developers build entirely new networks on top of Bitcoin - payments, privacy, smart contracts - each with its own rules, all secured by Bitcoin's hashrate. No consensus change. No risk to the base layer. Just builders building.

BITCOIN RAILS #59#: Post-Quantum Bitcoin Signatures (+ their tradeoffs) | with BIP 360 co-author @Ethan_Heilman and @Blockstream Head of Research @n1ckler 🔗 YOUTUBE: 🌿 SPOTIFY: According to BIP 360 co-author Ethan Heilman, Bitcoin needs a minimum of two soft forks to become quantum resistant: P2MR (or an output type that can safely execute PQ signatures) + a post-quantum checksig (signature scheme). Ethan and the BIP 360 team (including myself and @cryptoquick) introduced the P2MR part via a BIP 360 update late last year—but the question remains, what’s the most appropriate PQ signature scheme for Bitcoin? They all have substantive tradeoffs, but hash-based signatures seem to be leading technical discourse—likely due to recent optimizations by @n1ckler and the broader @Blockstream research team. It was an honor to sit down with both of these men - arguably the two most influential and productive cryptographers in Bitcoin quantum mitigation right now - for an in-depth review of the leading PQ signature schemes and a temperature check on Bitcoin’s post-quantum planning process. TBH, if you want to skip the noise and jump straight to the signal on quantum, this is the interview to watch. In this episode, we discuss: - What needs to happen at the soft fork, infra, and mitigation levels to fully quantum-harden Bitcoin - Recent updates to BIP 360 + breakdown of the leading hash-based signatures schemes for Bitcoin (SHRINCS + SHRIMPS) - Why we may actually get consensus around a stateful scheme for Bitcoin - Comparisons of hash-based signatures vs Lattice and Isogeny-based schemes - Assessing the risks of both waiting too long and acting too fast (and why quantum is a better threat to be facing than a potential classical attack) This episode of Bitcoin Rails is brought to you by my NEW sponsors: - LayerTwo Labs @LayerTwoLabs — developing research, software, and technologies for scaling Bitcoin via the integration of Drivechains (BIP 300/301) - Hashi on @SuiNetwork — a primitive for executing Bitcoin Defi transactions, without having to trust a federated bridge or other centralized entity - BitBox @BitBoxSwiss — an open-source Bitcoin-only hardware wallet, with smooth UX and no compromises on security. Check out Bitbox [dot] swiss and use code BITCOINRAILS to get a discount TIMESTAMPS: 00:00 Intro 02:18 Ethan’s Quantum Wakeup 05:18 How Blockstream Enters Post Quantum 09:25 BIP 360 Explained 12:11 How Bitcoin Transitions to PQ 17:35 Choosing Post Quantum Signatures 23:20 How Blockstream Created SHRINCS 27:22 Signature Budgets Importance Explained 41:13 What are SHRIMPS? 44:51 SHRIMPS vs SHRINCS 47:48 Why SLH-DSA Alone Won’t Cut It 49:24 Is a SHRIMPS + SHRINCS BIP Coming? 51:51 Blockstream’s Big Plans for Liquid 59:04 Quantum Readiness Roadmap 01:02:22 Importance of a PQ Recovery Plan 01:05:35 How Long Would a PQ Migration Take 01:11:17 Quantum Watchlist Recommendations

🟥 Things I'm looking at today 🟥 Powered by @yeet Subscribe: Crypto lower, Clarity vote today, AI stocks slump Crypto * BTC: 77,090 (-1%) | BTC.D: 58.8% (0%) * ETH: 2,477 (-2%) | BNB: 717 (-1%) | SOL: 101 (-1%) * Fear & Greed: 68 | 24h Liq: $358m * BTC ETFs: +$160M | ETH ETFs: +$121M * Top Gainers: AKE, CAP, LOBSTER, AI, LAPTOP * Crypto lower, ahead of Clarity vote today * Dems reject Clarity draft, send counter * Clarity 2026 odds fall to 16% on Polymarket * 114-page crypto tax package skips mining, staking * 18 state AGs urge Senate to reject Clarity Act * Largest US public union AFSCME opposes Clarity * Gillibrand privately pushes Dems to back Clarity * Bank groups demand strict stablecoin yield limits * Crypto has 'not priced in' Clarity: Bernstein * BTC post-quantum roadmap forms around BIP-360 * Strategy buys $139M STRC, Strive adds $37M BTC * ETH ETFs used as CME futures collateral: Bitfinex * Ethereum L1, Base split on AA standards * Robinhood plans voting, redemptions for stock tokens * Pixelmon to discontinue all game development * Revolut gave hackers data on 680 customers * US SBR bill orders study, not BTC buys * CoinEx to shut down * Etherscan launches Robinhood Chain explorer * WLFI proposes rewards for token lockers * BabyDoge acquires LimeWire for creator push * Kraken adds DeFi yield to tokenised stocks, ETFs * Balancer wind-down proposed as revenue stalls * MetaMask adds new scam protections to wallet * Kalshi launches gold, silver perps in US * DOJ seeks $61M Iran oil cash laundered via Binance * UK BTC DAT Satsuma to delist from LSE * FCA, BoE to publish UK tokenisation roadmap * Poland lost $230M on Venezuela oil deal in USDT * UAE to put Avalanche in UAE PASS digital ID * Stock, crypto interest jumps 96% in South Korea * Argentina to share crypto user data under CARF * Ondo expands to Australian markets Macro * NASDAQ: $26,190 (-0.6%) | Gold: $4,290 (-0.3%) * AI sell-off drives US stocks lower * Odds of Fed hike hit 94% * US 10yr yield hits highest since 2007 * US weighs 'phased' deal with Iran * Oil tops $108 as ME routes threatened * US gas prices up 52% YTD * IEA cuts 2026 oil demand forecast by 940K bpd * Fed to buy $15.6B bills for MBS reinvestment * SC rejects Trump bid to restrict mail ballots * 51% odds of Dems winning Senate, per Kalshi * EPA scraps limits on power plant emissions * DOJ uncovers $245M Covid relief programs fraud * US admits for first time it has weapons in space * Supertanker struck by mines in Hormuz: Iran * US could stay in Iran and keep oil: Trump * Houthis launch more attacks on Saudi * UNSC calls emergency meeting on Bab al-Mandab * Ukraine drones hit Russia's Syzran refinery * NATO jets shoot down drone over Lithuania * Russian frigate fires flares at Danish helicopter * Kim Jong Un vows stronger alliance with Russia * US sanctions Russia's VTB for helping Iran * Newsom won't run in 2028 if Harris runs * Kennedy Center could go broke, shut this week * Paramount threatens California exit * House votes to permanently scrap the penny AI & Tech * AI stocks fall on slowdown calls * CrowdStrike, Palo Alto rally as AI fears lift cyber * Trump rings Jensen on stage, brands AI fears 'hoax' * 'Not going to let' an AI slowdown happen: Jensen * AI doomer predictions are 'made up’: Jensen * China rejects AI slowdown calls * Clinton urges US to 'enlist the Chinese' on AI * Schumer demands classified Senate briefing on AI * Microsoft agrees AI is getting dangerous * Microsoft unveils 'Humanist AI' code of conduct * AI boom needs $110B of new power plants: Moodys * OpenAI contractors read users' ChatGPT chats * OpenAI buys Glass Imaging for $300M * OpenAI enterprise revenue +32% m/m in July * OpenAI cut Luna price 80%, usage rose 10x * OpenAI agents' top priority is automating research * Trump met Altman privately at GOP convention * DeepMind researcher quits, says AI 'could kill us all' * Anthropic launches Claude for Financial Advisors * Anthropic won't delay 2026 IPO: Axios * We’re 'highly profitable' excl. big costs: Anthropic * Rumble surges on reported $13.7B Anthropic deal * Anthropic co-founder calls for AI 'kill switch' * Palantir, Nvidia restrict Anthropic, OpenAI models * Google Cloud claims 2.7x price-performance edge * Oracle announces new layoffs to offset AI capex * Apple accepts 30-40% Samsung memory price hikes * Apple releases iOS 27 with Siri AI overhaul * iOS 27 lets users hide location from chosen people * AI brain implant lets paralysed woman speak again * X, SpaceXAI drop antitrust lawsuit against Apple * Amazon, Netflix, YouTube form streaming alliance @YEET: Crypto's Casino Just passed $3.4B in lifetime volume! gm

For free subscribers: Incentives Are for Losers, Young Adults Are Poor, Fertility and Currency, The Perfect Recipe, A New Revolution, BIP110 Split on Tone Vays's Stream, Mr. M Podcast and more! For paid subscribers: BIP460 Cross-Input Signature Aggregation, ChillDKG for FROST, Coldcard Entropy Post-Mortem, Blockstream Swaps Fills the Boltz Hole, LND Reorg Disclosure, Nostr-Native Hub, DIY Signing Device Summit, Trezor Shipping Data Breach, Tracing the 1,082 BTC Coldcard Drain, Soft Fork Network Resilience, Red Team Publicity Questions, Strategy Sells the Bottom, Humans Suck at Entropy and more! #Bitcoin# Tech Talk #514#