From billions, to millions, to 1 million.
Despite this, most still think we have 5 years before there is significant risk. Good, right?
Well Taproot took 3 years
With No Debates
It was an improvement that added value
And backward compatible
You didn't even need to know it happened
Adding Post Quantum Cryptography faces major pushback
It already has several disagreements
Slows down the chain
And could have a 6 month backlog of transfers to protected wallets.
Plus we need wallet software to upgrade along with it.
I'm obviously not optimistic. But let's say they do progress and actually upgrade in 3-5 years. And I think since it just serving as store of value, we can accept the slowdown.
But will we still allow vulnerable keys to be taken.
Will people wait out the transfer backlog?
I think quite a few investors will move to safety and see how it plays out. And if people think others will move to safety, they'll try to get ahead of it. That creates significant downward pressure.
All these reasons are why this upgrade will continue to be pushed aside imo.
If we got ahead of this, and let people slowly transition, it would reduce any panic scenario, spread out transfers, and give the ecosystem time to adjust.
Some like Hunter Beast and Jameson Lopp are trying to raise awareness, but for all these reasons above, this needs to be the first and only priority.
It's not a narrative, it's a requirement.
We have NIST approved standards
They are telling ALL SYSTEMS to begin implementing this.
I learned about this threat years ago from following qanplatform (still invested). It seemed premature to focus on it, but I aligned with the greater vision for how to leverage blockchain for business utility. Now it appears they were correct in their assessment. All chains need to sort this out or they will be considered not secure.
