BIP-360 (P2MR)

A Bitcoin Improvement Proposal for a Merkle-root output type that never puts a public key on-chain until spend, designed as a path to post-quantum signatures.

BIP-360 proposes Pay-to-Merkle-Root (P2MR; earlier drafts used the name P2QRH), an output type whose commitment is a Merkle root of spending conditions rather than a tweaked public key. Unlike Taproot, no public key is exposed while the coins sit unspent, and the script tree can carry post-quantum signature schemes once the network agrees on them. The proposal was merged into the BIPs repository in February 2026 as a draft; merging a draft is a documentation step, not activation, and as of August 2026 there is no activation mechanism or deployed P2MR output on mainnet. ByKaranteli will measure P2MR adoption from its own node if and when outputs of that type appear; until then the row on /quantum stays at zero by design.

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Other terms

Quantum-Exposed Bitcoin Supply
Bitcoin held in outputs whose public key is already visible on-chain, so a large...
P2PK (Pay-to-Public-Key)
The original Bitcoin output script that pays directly to a public key; most of i...
Q-Day
Shorthand for the day a quantum computer can break today's public-key cryptograp...
Post-Quantum Cryptography (PQC)
Signature and key-exchange schemes designed to resist quantum computers; NIST fi...
Funding Rate
Periodic payment between perpetual futures longs and shorts that keeps the contr...
Open Interest
Total notional value of all open futures positions at a given moment....

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