The standardization process is the formal review path used to evaluate, compare, and select algorithms for wider use. In cryptography, this usually means a candidate scheme is tested for security, efficiency, implementation risk, and practicality before it becomes an approved standard.
This matters because a standard can shape how millions of systems protect data, signatures, and communications. Weaknesses found during review can stop a flawed design from being adopted, or at least force changes to parameters, proofs, or guidance. In real security work, the process is a defense mechanism: researchers, vendors, and sometimes automated tools look for mathematical mistakes before attackers can exploit them in production. For post-quantum cryptography, the review path is especially important because organizations need algorithms they can trust for long-term migration.