Introducing Hourglass

The discussion initiated by Saint Wenhao revolves around the challenges posed by quantum-capable attackers in the realm of cryptocurrency, particularly focusing on their ability to simultaneously broadcast and self-mine, thus jeopardizing the security of transactions. This concern laid the groundwork for the Quantum Resistant Address Migration Proposal (QRAMP), which aims to proactively counteract such threats. The essence of QRAMP is its strategic approach to enforce a migration of all unspent Pay-to-PubKey (P2PK) outputs to quantum-resistant addresses within a stipulated timeframe.

The proposal outlines a preventive measure where, after a certain block height or date is reached, any P2PK outputs that have not been transferred to a quantum-safe address will become non-spendable. This method ensures that holders who comply with the migration directive maintain complete control over their assets, while any coins left unmoved will be effectively rendered inaccessible or invalidated via consensus. This eliminates the possibility for an attacker to exploit these assets, as there would be nothing left to sign or compromise.

By instituting a firm deadline for this migration, the QRAMP initiative seeks to circumvent the inefficiencies involved in continuously monitoring and defending against well-funded adversaries in the transaction pool (mempool). Instead of engaging in a potentially endless cat-and-mouse game with quantum attackers, the proposal opts for a decisive cut-off point, thereby safeguarding the integrity of the cryptocurrency against emerging quantum threats.