quantum computing – How would a tough fork for a brand new key-pair/tackle technology algorithm be applied virtually?
If an upcoming arduous fork entails a change to new methodology for key-pair/tackle technology, how precisely is it going to be carried out? How would all of the outdated addresses going to vary to ones which might be appropriate with the brand new algorithm and the way is the switch of possession going to be carried out precisely?
For the blockchain to maintain the identical state after the fork, there must be a brand new tackle for every outdated (incompatible) tackle that holds the identical quantity of BTC and has the identical proprietor.
A technique I can consider is including assist for each the outdated and new key-pair/tackle technology strategies quickly, after which immediate all homeowners holding addresses generated utilizing the outdated methodology to ship their BTC to new addresses generated utilizing the newer methodology, and at last dropping assist for the outdated methodology. With ~30 million distinctive BTC addresses as of at the moment, and a present block dimension 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 increased than ordinary. I suppose it might additionally lure any BTC that hasn’t been transferred to a brand new tackle by homeowners in a well timed method inside the outdated, incompatible tackle.