Blockstream drafts BIP for quantum-resistant BTC signature scheme 'SHRINCS'

Blockstream researchers have drafted a Bitcoin Improvement Proposal, or BIP, to introduce 'SHRINCS' as a quantum-resistant signature scheme for approving BTC transactions, The Block reported. SHRINCS is based on SHA-256 and targets a security level of 128 bits against conventional computers and 64 bits against quantum computers, although a mathematical proof establishing that security level has not yet been completed.