- Founder Cardano believes that the timeframe for implementing quantum technologies is shrinking.
- Bitcoin has three possible outcomes, but there is no governance system that would allow it to choose one of them.
Founder Cardano Charles Hoskinson warned the public that the quantum threat is approaching faster than many expect. He said this рассказал on the Paul Barron Network podcast.
Hoskinson drew attention to DARPA’s quantum benchmarking initiative. As part of this initiative, 11 companies, including IBM, have already completed the first of three stages of testing to confirm that a working quantum computer capable of breaking encryption can be built by 2033.
At the same time, Bitcoin’s problem is structural, Hoskinson noted. The flagship cryptocurrency has three options:
- do nothing and leave approximately 6,8 million coins vulnerable;
- adopt BIP 360, which adds a post-quantum signature scheme but still allows for theft of funds from legacy addresses;
- adopt BIP 361, which freezes stale accounts and forces users to migrate to the new network via a hard fork.
The hard fork option requires a decision at the governance level, and Bitcoin has no mechanism for this. Cardano “There’s on-chain voting and a constitution,” Hoskinson rejoiced. Bitcoin’s design lacks both.
That’s why Hoskinson put the net Cardano in a better position over the 24 to 48 month horizon compared to Algorand and Ethereum, and the Nightstream project, implemented through the Linux Foundation, in his opinion, will become the post-quantum basis for Midnight.
Last day Cardano rose 2,7% to $0,2526, according to CoinGecko.
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