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a16z: BTC Faces More Severe Quantum Threat Due to 'Inefficient Governance' and 'Dormant Tokens'
Summary: According to a report by a16z on quantum attacks, Bitcoin is facing two major challenges, prompting an urgent need to shift to quantum-resistant digital signatures. The first issue is the inefficiency of governance, with Bitcoin's upgrade process moving at a slow pace. Without consensus on solutions, any contentious issue could lead to destructive hard forks. ...
According to a report by a16z on quantum attacks, Bitcoin is facing two major challenges, prompting an urgent need to shift to quantum-resistant digital signatures. The first issue is the inefficiency of governance, with Bitcoin's upgrade process moving at a slow pace. Without consensus on solutions, any contentious issue could lead to destructive hard forks. The second issue is the lack of proactive migration, as the transition to quantum-resistant signatures cannot be passive, requiring asset holders to actively migrate. This means that a large number of dormant tokens vulnerable to quantum attacks will lose protection. It is estimated that the number of vulnerable Bitcoin tokens at risk of abandonment due to quantum attacks could reach millions, with a calculated market value of billions of dollars.
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Link: a16z: BTC Faces More Severe Quantum Threat Due to 'Inefficient Governance' and 'Dormant Tokens' [Copy]
