Gate News reports that on March 9, Project Eleven’s latest research indicates that if blockchain migrates to post-quantum cryptography, the widely used address generation methods for encrypted transactions may become ineffective. Some exchanges, such as CEX, currently rely on hierarchical deterministic wallets (BIP32 standard), which allow operators to generate new deposit addresses using public keys on the server while keeping private keys offline in cold storage. Researchers found that under the post-quantum digital signature standard ML-DSA developed by the National Institute of Standards and Technology (NIST), this architecture may not function properly. Conor Deegan, co-founder and CTO of Project Eleven, stated that if Bitcoin adopts ML-DSA without similar constructions, the system will lose non-hardened derivation capabilities, and exchanges, payment processors, and others will be unable to generate new receiving addresses solely through public keys.
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