On July 5th, the National Institute of Standards and Technology (NIST) announced its results for the third round of the Post-Quantum Cryptography (PQC) standardization process.
Out of the four candidate algorithms for standardization, NIST recommended CRYSTALS-KYBER (key-establishment) and CRYSTALS-Dilithium (digital signatures) for most use cases. Furthermore, FALCON and SPHINCS+ (digital signature) will also be standardized.
On the other hand, Classic McElice, which is highly regarded as secure, was a finalist yet was not standardized by NIST in this round. There is a possibility this algorithm will be standardized at the end of the fourth round.