Justin Drake

So there's the consensus layer where we have this cryptography called BLS.

There's the data layer where we have KCG.

And then we have the execution layer where we have ECDSA.

And each three of these pieces of cryptography are vulnerable.

And that is a superset of what you have in Bitcoin where you only have the ECDSA problem.

So in some sense, we have like three times more things that we need to upgrade.

But when you zoom out, I would argue that the bigger issue, maybe 80% of it is social.

We've already touched on whether to burn or not to burn.

But there's something even more fundamental, which is, do we accept that this is even a problem?

And in Bitcoin land, you have this immuno response, which basically just rejects any kind of narrative, which could potentially be bad for the price.

And you have people like Adam Back that are saying, quantum computers are at least decades away from today.

And so step zero is to have some sort of acceptance that there is a problem.

And it's possible that Bitcoin will be slightly too late and that would have much bigger consequences than on the technology side of things.

Yeah, let me say this.

I'm willing to bet a large amount that all three layers of Ethereum will be upgraded prior to the single layer of Ethereum.

Yes, exactly.

And even on the technical side of things, this is a problem that we've been working on for almost a decade now.

So if you rewind the clock back to 2018, we gave a $5 million grant to Stockware to study these hash-based post-quantum stocks and to lay the foundations with...

you know, snark friendly hash functions.

This is where the Poseidon hash function came out from.