The foundation of cryptographic techniques used in L1 and L2 blockchains is premised on the existence of one-way-functions. If a one-way-function exists for a given problem, then its cryptographically secured and, if not, its likely to be vulnerable to different attacks. However, so far it has been nearly impossible to prove the existence of one-way-functions. In their paper, researchers from Cornell University found an answer drawing parallels to an obscure area of computer science.
The math behind the paper is well beyond me, but Rodriguez provides an easily digestible description of why this is important (4 min).
