BlockBeats News, December 7th, a16z stated in its latest article on quantum attacks that Bitcoin is facing the challenge of two major real-world problems, making it urgent to transition to post-quantum digital signatures.
The first is the governance efficiency issue, as Bitcoin’s upgrade process is extremely slow. If the community cannot reach a consensus on the solution, any contentious issue could trigger a disruptive hard fork. The second is the proactiveness of migration issue, as the transition of Bitcoin to post-quantum signatures cannot be completed passively; holders must actively migrate their assets. This means that a large amount of dormant, quantum-vulnerable coins will lose protection.
It is estimated that the number of such quantum-vulnerable and potentially abandoned bitcoins could reach millions, with a calculated market value of up to hundreds of billions of dollars.
