This is a proof of concept implementation that combines a classical and post quantum digital signature scheme. NIST Round 3 implementation of Falcon and EdDSA (ed25519) implementation from https://tweetnacl.cr.yp.to/ is used.
This hybrid implementation is a short term hedge against known lattice based cryptography schemes getting broken.
Thats true, its a critical risk to Bitcoin, Ethereum etc. The digital signature scheme protecting Bitcoin accounts use elliptic curves which can also be broken using quantum computers.Transactions can be forged using broken accounts.
It's fairly easy to underestimate the time required to change a non quantum resistant to a quantum resistant one.
To protect Bitcoin from quantum computers, the blockchain has to be forked as early as possible, with all blocks re-signed with quantum resistant digital signature schemes. Devil is in the details though.
The Doge Protocol project will fork Bitcoin and move it to a quantum resistant hybrid scheme.
Note that SIKE is not a digital signature scheme, it's for key exchange. Hence SIKE cannot be used for signing Bitcoin transactions but can be used for encrypting communication over the wire.
For digital signatures, the 3 standardized schemes are Falcon, Dilithium, SPHINCS+.
Falcon/Dilithium can be used in blockchains though they are much larger compared to elliptic curve ones. SPHINCS+ is way too large.
There is likely going to be a newer NIST program for signature schemes with smaller signature size.