Blingus
742 posts

Blingus
@blingus_
CTO https://t.co/1XJr2vIVxB & https://t.co/QkNx0LY9p0 | Founder https://t.co/kUjDmBAHgI | Founder of https://t.co/SKky8XdEFw at https://t.co/cfczYUJAxi








If you believe in somΞTHing, this one's for you. ETH-backed loans are here. You can borrow USDC against your Ethereum, unlocking liquidity without selling. Available now in the U.S. (ex. NY).


Important not to scaremonger here about quantum timelines. Running Shor's algorithm is not the same thing as breaking an actual 256-bit ECC key. You can use Shor's algorithm to factor a number—that will be impressive—but will take a huge degree of scaling and engineering to factor a number with hundreds of digits. @metaculus is projecting first RSA number gets factored using Shor's algorithm in 2034. That gives us median estimate ~10 years before modern public key crypto is definitively broken. (That said, can happen sooner! It's not a point estimate, but a distribution, fuzzy on both the downside and upside.) Also worth noting that this estimate has significantly come down in the last 3 years. In 2022, Metaculus was forecasting 2052, so the timer has come down by almost 20 years since then. Progress is certainly ahead of schedule. Important to take seriously. But not imminent by any means. All blockchains will need to adapt to post-quantum cryptography. An orderly transition probably needs at least 4 years, which means we have the next few years to decide on a viable upgrade path.



Today, we released our full post-mortem on the recent exploit. I encourage everyone to read it to understand what happened, how we responded, and our path forward. This is not the end. We remain fully dedicated to our recovery efforts and are exploring every avenue to restore value to affected users. User safety has always been our highest priority, and we're taking every lesson from this incident to build stronger safeguards. More details will follow as we progress. Thank you for your patience and trust during this time! 🙏🏼







