[kaangiray26]

If being crackable during the time period is a concern, why not just use OTP (one-time pad, not his evil twin) and create XORed multiple keys to be shared with peers, and then use all of the distributed keys to reveal the message after some time had passed?

[AgentME]

Some people do timelock encryption by using weak cryptography that's expected to be broken in a planned amount of time, but this project isn't doing that. It uses modern cryptography to encrypt some data to a set of public keys so that 18 of 22 nodes have to cooperate to decrypt it. Anything encrypted with modern cryptography isn't expected to be crackable in under millions of years.

Their design has the benefit over yours that people don't need to send data to peers in order to timelock some data. The timelock only needs to be sent to the peers for decryption.

[kaangiray26]

Your last sentence seems just the same to me. I believe that saying something can't be cracked in under millions of years is analogous to saying that no advancements will be made in those years.