quantum computing – How would a tough fork for a brand new key-pair/handle technology algorithm be applied virtually?
If an upcoming laborious fork entails a change to new technique for key-pair/handle technology, how precisely is it going to be carried out? How would all of the previous addresses going to vary to ones which might be appropriate with the brand new algorithm and the way is the switch of possession going to be performed precisely?
For the blockchain to maintain the identical state after the fork, there must be a brand new handle for every previous (incompatible) handle that holds the identical quantity of BTC and has the identical proprietor.
A method I can consider is including assist for each the previous and new key-pair/handle technology strategies quickly, after which immediate all house owners holding addresses generated utilizing the previous technique to ship their BTC to new addresses generated utilizing the newer technique, and eventually dropping assist for the previous technique. With ~30 million distinctive BTC addresses as of as we speak, and a present block measurement able to processing 2-7 transactions per second, this transition would want between 50-173 days to finish, throughout which the blockchain is totally incapacitated, and miner charges being greater than standard. I suppose it may additionally lure any BTC that hasn’t been transferred to a brand new handle by house owners in a well timed method inside the previous, incompatible handle.