Read this #CZ provides details $SIREN
I saw people panicking or asking what impact quantum computing would have on crypto.
At a high level, all crypto has to do is transition to quantum-resistant algorithms (Post-Quantum). So, no need to panic. 😂
In practice, there are certain execution considerations. It's difficult to organize upgrades in a decentralized world. There will likely be many debates on which algorithm(s) to use, leading to some forks.
And some dead projects might not update at all. It might be good to clean up those projects anyway.
New code can introduce other bugs or security issues in the short term.
People managing their own custody will need to migrate their coins to new wallets.
This raises the question of Satoshi's bitcoins. If these coins move, it means he/she is still around, which is interesting to know. If they don't move (within a certain time frame), it might be better to lock (or effectively burn) those addresses so they don't fall into the hands of the first hacker who cracks them. There's also the difficulty of identifying all his addresses, and not confusing them with some old hodlers. Anyway, that's a different topic for later.
Basically:
It's always easier to encrypt than to decrypt.
More computing power is always good.
Crypto will remain, after quantum.
I saw people panicking or asking what impact quantum computing would have on crypto.
At a high level, all crypto has to do is transition to quantum-resistant algorithms (Post-Quantum). So, no need to panic. 😂
In practice, there are certain execution considerations. It's difficult to organize upgrades in a decentralized world. There will likely be many debates on which algorithm(s) to use, leading to some forks.
And some dead projects might not update at all. It might be good to clean up those projects anyway.
New code can introduce other bugs or security issues in the short term.
People managing their own custody will need to migrate their coins to new wallets.
This raises the question of Satoshi's bitcoins. If these coins move, it means he/she is still around, which is interesting to know. If they don't move (within a certain time frame), it might be better to lock (or effectively burn) those addresses so they don't fall into the hands of the first hacker who cracks them. There's also the difficulty of identifying all his addresses, and not confusing them with some old hodlers. Anyway, that's a different topic for later.
Basically:
It's always easier to encrypt than to decrypt.
More computing power is always good.
Crypto will remain, after quantum.