Quantum Resistant Ledger (QRL) is a cryptocurrency ledger built from scratch using Python. Its main purpose is to resist classical and quantum computer attacks. It uses a proprietary cryptography system, different from Bitcoin and all altcoins, known as a hash-based Merkle tree digital signature, which is protected from quantum attacks.
What is Quantum Resistant Ledger (Project Idea)
QRL (Quantum Resistant Ledger) will be a cryptocurrency ledger that is designed from the outset to be resistant to both classical and quantum computer attacks. It uses a different cryptography system for Bitcoin (and all other altcoins), known as hash-based digital signatures, which are quantum resistant. The project has existed since 2016. Development depends on the competitive environment and the relevance of the use of quantum computers in the future.
Peculiarities
- QPoS mining method
- Development in Python
- Currently on the Ethereum network, in the process of migrating to its Native QRL Network
Key Features
Externally verified, enterprise-grade blockchain platform is future-proof in quantum computing.
Visionary Security
QRL is the first production implementation to use IETF-specified XMSS; A hash-based forward secure signature scheme with minimal security assumptions and reusable addresses.
Convenience for developers
Extensive tools, documentation, and a rich API give you the tools to build anything today on an industrial-grade platform that will survive tomorrow.
Prospects forecast and a little QRL analysis
Humanity is now already thinking about creating a super-powerful computer that will be several steps ahead of existing ones. We are talking about creating a quantum PC. The developers of Quantum Resistant Ledger approached the idea thoroughly; having decided on a strategy several years in advance, they decided to use protection against quantum attacks as a basis. Perhaps the project will not achieve success in the coming months, but in the future the flag of leadership among opponents is clearly in his hands
Now RoadMap tells us that the project is at the stage of transition to its network.
It is likely that developers will plunge headlong into quantum technologies, which will allow them to release a new unique product. But now we have a project at the development stage. Due to a specific policy, the project has every chance of entering the TOP 50 coinmarketcup
With an eye on the future
The ledger will be the first test of signatures protected from quantum attacks, and will provide an ultra-secure system for restoring funds in the event of a sudden development of quantum computers (Bitcoin, Ethereum and other cryptocurrencies will be vulnerable to such attacks). The initial goal of the project is to provide a small volume of ultra-secure transactions in the first iteration with guaranteed durability.
Secure digital assets
The QRL digital asset is protected from current and emerging cryptographic threats. Our suite of solutions provides a range of options for securely storing QRL digital assets and interoperating with public and private post-quantum secure blockchains built on our core protocol.
Ensuring post-quantum secure communications
Combining lattice on-chain key storage with our powerful ephemeral messaging layer and peer-to-peer communication provides a first-of-its-kind post-quantum secure message layer for ultra-secure digital communications.
Wide integration and diverse ecosystem
Tight integration with the world's leading digital asset storage hardware solutions and open development architecture, open source and proven cryptography, and rich developer API experience make QRL a trusted enterprise-grade solution.
RoadMap Quantum Resistant Ledger
Judging by the roadmap, the development of the project is at the stage (as we said earlier) of migration to its own network and auditing.
Next steps:
- Messaging App Launch Mobile ephemeral messaging app for user-friendly communication with post-quantum resistance
- Possibility of integrating smart contracts Research on the possibility of implementing smart contracts in the QRL blockchain
- PoS hard fork
What does the company/project do?
QRL is a cryptocurrency that is implemented from the outset to be resistant to both classical and quantum computer attack.
The initial goal of the project is to create a functional and secure blockchain on which more technologies, such as ephemeral secure quantum time data channels, can be built.
QRL (Quantum Resistant Ledger) Team
The big drawback for me is the lack of links to various networks. You have to manually search for each team member by entering their picture into the search. A search for this command showed that people are real, they are on networks.
Peculiarities
Unlike existing ledgers such as bitcoin or ethereum, QRL is specifically designed to use a form of post-quantum secure signature for transactions called XMSS.
QRL also uses a low-power algorithm (POS), which again uses iterative hash chains and provably protects hash-based pseudo-random number functions. The POS algorithm is designed to provide zero dependence on conventional signatures, which are vulnerable to fairly powerful quality control and allow nodes to run on devices with low power consumption
Advantages of QRL over other cryptocurrencies
In comparison with representatives of Ethereum and Bitcoin already available on the digital market, QRL has certain qualities in its developments, the basis of which is the appearance of images after continuous protection of signatures for transactions, called XMSS.
Quantum Resistant Ledger uses an energy-saving POS sequence that cyclically applies the online hash chain while simultaneously protecting the interaction of falsely arbitrary hash symbols. The POS sequence should create minimal impact from traditional numbers, which are characterized by their pliability and vulnerability to massive quality monitoring activities. Using POS will ensure productive node operation on devices and installations with minimal energy consumption.
Conclusion
Advantages
- The developers have chosen an interesting area for activity. The first quantum computers may appear in the coming years. And protection against such hacking will be very useful.
- Clear algorithms for the operation of the Quantum Resistant Ledger blockchain are proposed. It’s not easy to understand them, but the developers, at least, are not trying to make do with promises alone. They also explain exactly how their product works.
- Development has been underway since 2016. This means that it is not scammers who are doing it, but people interested in the development of the system.
Flaws
- Absence of quantum computers in principle. There is a lot of talk about this phenomenon, but the technology itself has so far advanced little beyond theoretical calculations. Therefore, it is unknown how high-quality the information protection will be.
- The presence of a large number of competitors to Quantum Resistant Ledger. If it turns out that Bitcoin, Ethereum and a number of other platforms are protected from quantum hacking, then the need for the platform will disappear.
- No additional services. All that the Quantum Resistant Ledger platform offers is transactions, which can also be done through other platforms.
QRL tokens
In the Quantum Resistant Ledger system, QRL tokens are used to pay for ongoing transactions and access to the system. If a user wishes to use the services of the platform, he will be required to buy tokens and use them to make a transfer. The recipient will be able to exchange QRL tokens for a convenient cryptocurrency or fiat money. During the transfer process, Quantum Resistant Ledger miners whose system resources are used will be paid a certain commission. The size of the commission depends on a number of parameters: the size of the transfer, the number of miners involved in the transaction and some other factors.
Quantum Resistant Ledger
Contents
Course as of 01/13/2022
The following functions are planned to be implemented:
Why choose Quantum Resistant Ledger?
What will be the rewards for staking?
How is QRL post-quantum security ensured?
Is staking safe?
Quantum Resistant Ledger (QRL) is the cryptocurrency of the future. Upon mainnet release, the Quantum Resistant Ledger (QRL) will be the first of its kind, a future-proof post-quantum store of value and a decentralized communication layer, eliminating the threat to cryptocurrencies posed by quantum computers. It is supported by provably secure peer-reviewed XMSS (instead of 256-bit ECDSA) with a deferred Quantum Proof of Stake (QPoS) system for secure staking.
Algorithm: XMSS
Rate as of 01/13/2022
- Rate:
0.181313 USD - Symbol:
QRL - Rating (CMC):
972
While the QRL blockchain is being developed, QRL is trading as an ERC20 token on the Ethereum blockchain. It will be exchanged on the main network at a 1:1 rate. When the time comes, the process will be simple, easy and structured. QRL uses Proof of Stake (PoS) as a type of algorithm to reach consensus regarding the finality of transactions on the network.
The following functions are planned to be implemented:
- Web wallet for user experience (browser like MEW)
- Desktop applications (Windows, Mac, Linux)
- GRPC with serialization protocol for powerful API
- Post-quantum ephemeral messaging layer
Why choose Quantum Resistant Ledger?
Switching from ECDSA addresses to quantum-safe addresses would be a serious fork, and would potentially require deactivation of active addresses for the duration of the fork, regardless of the specific cryptocurrency. This could have serious adverse consequences for the cryptocurrency-based blockchain network, and would also require significant portions of the cryptocurrency code to be modified to accommodate new security features, calling into question the feasibility of implementation.
Moreover, it is not always possible to determine when and where rapid advances in technological innovation will occur. This is especially true for developing technologies, such as blockchain and quantum computers. There is some potential for unforeseen/non-public promotion of quantum computers, which could lead to attacks on cryptocurrency networks and market-wide sudden vulnerabilities of those based on ECDSA signature creation methods. This could cause a “bank run” scenario and collapse the value of many, if not all, of the cryptocurrencies secured through ECDSA.
What will be the rewards for staking?
Because the staking reward payout model is directly proportional, you will be rewarded with approximately the same percentage of incoming QRLs that you own relative to the staking pool during any given time period.
For example, if you stake 100 QRL, and the staking sum of all staking wallets is 1000 QRL, you own 10% of all funds staked. For any block during the staking period, you will have a 10% chance of creating the next valid block and receiving a reward for that block in return.
How is QRL post-quantum security ensured?
Some important algorithms in public key cryptography (such as ECDSA, used by Bitcoin) base their security on the assumption that the problem of discrete logarithms with respect to carefully selected groups has no efficient solution. However, it has been shown that a quantum computer of sufficient power can use Shor's algorithm to efficiently compute a private key generated using ECDSA, while simultaneously scanning in superposition all possible solutions for a given public key (address).
QRL implements one of a series of peer-reviewed post-quantum security algorithms: XMSS (eXtended Merkle Signature Scheme). XMSS uses OTS (One Time Signature Scheme), which can sign only one message with one key. OTS signing keys are generated on an as-needed basis, making XMSS unforgeable by targeted message attacks.
Is staking safe?
In cryptocurrency systems, keeping private keys hidden is the most important point in ensuring the security of funds. Staking on the QRL network does not require you to share any secret information with anyone. The source code is open so anyone can check it. It will also offer tools for “secure offline staking,” where users can stake without having to expose their private keys to the world wide web.
While a node is staking, funds are locked, but they can be unlocked at any time by ceasing staking.
Official site
News from the official Twitter
Tokens of the Quantum Resistant Ledger system
Within the created network, QRL tokens are needed for settlements between participants in ongoing exchanges and transfers, as well as as a small fee for entering the server.
The activities of users on the site can be varied, in any case, in order to use the capabilities of the platform, the participant will need to purchase tokens and then use them to carry out payment transactions. After a successfully completed transaction, the recipient user will convert the listed tokens into another desired coin or, as a last resort, withdraw them in the traditional form to the card.
QRL miners will receive a certain percentage at the time of such transactions, which varies depending on the number of miners in the network and the amount of the transfer.
QRL rate:
| 1 QRL = | 0.71700000 AED |
| 1 QRL = | 0.00000000 AFN |
| 1 QRL = | 18.1400000 ALL |
| 1 QRL = | 82.9100000 AMD |
| 1 QRL = | 45.2300000 AOA |
| 1 QRL = | 0.23980000 AUD |
| 1 QRL = | 0.00000000 AZN |
| 1 QRL = | 0.26850000 BAM |
| 1 QRL = | 0.00000000 BBD |
| 1 QRL = | 17.8100000 BDT |
| 1 QRL = | 0.36110000 BGN |
| 1 QRL = | 0.63480000 BHD |
| 1 QRL = | 1.27700000 BOB |
| 1 QRL = | 0.97130000 BRL |
| 1 QRL = | 7.10700000 BSD |
| 1 QRL = | 0.00000398 BTC |
| 1 QRL = | 27.8300000 BTN |
| 1 QRL = | 5.45200000 BTS |
| 1 QRL = | 0.46850000 BYN |
| 1 QRL = | 0.21770000 CAD |
| 1 QRL = | 0.15970000 CHF |
| 1 QRL = | 1.07800000 CNY |
| 1 QRL = | 700.560000 COP |
| 1 QRL = | 110.830000 CRC |
| 1 QRL = | 3.72800000 CZK |
| 1 QRL = | 0.00122000 DASH |
| 1 QRL = | 0.91230000 DKK |
| 1 QRL = | 1.02300000 DOGE |
| 1 QRL = | 10.6000000 DOP |
| 1 QRL = | 12.6000000 DZD |
| 1 QRL = | 199.000000 EAC |
| 1 QRL = | 3.02100000 EGP |
| 1 QRL = | 3.46100000 EMC |
| 1 QRL = | 14.1700000 ETB |
| 1 QRL = | 0.00005188 ETH |
| 1 QRL = | 0.15250000 EUR |
| 1 QRL = | 0.12500000 FCT |
| 1 QRL = | 14.2100000 FTC |
| 1 QRL = | 0.12740000 GBP |
| 1 QRL = | 0.56020000 GEL |
| 1 QRL = | 0.00896300 GGP |
| 1 QRL = | 0.00117200 GIP |
| 1 QRL = | 1.54100000 GTQ |
| 1 QRL = | 1.36200000 HKD |
| 1 QRL = | 4.48500000 HNL |
| 1 QRL = | 1.18100000 HRK |
| 1 QRL = | 58.1100000 HUF |
| 1 QRL = | 2502.92000 IDR |
| 1 QRL = | 0.57680000 ILS |
| 1 QRL = | 14.2100000 INR |
| 1 QRL = | 48.4900000 IQD |
| 1 QRL = | 52457.0900 IRR |
| 1 QRL = | 41.1800000 ISK |
| 1 QRL = | 34.7600000 JMD |
| 1 QRL = | 0.16550000 JOD |
| 1 QRL = | 20.0100000 JPY |
| 1 QRL = | 20.9000000 KES |
| 1 QRL = | 14.5800000 KGS |
| 1 QRL = | 662.090000 KHR |
| 1 QRL = | 212.650000 KRW |
| 1 QRL = | 97.5600000 KZT |
| 1 QRL = | 286.800000 LBP |
| 1 QRL = | 44.7100000 LKR |
| 1 QRL = | 0.00125900 LTC |
| 1 QRL = | 1.64300000 MAD |
| 1 QRL = | 4.05900000 MDL |
| 1 QRL = | 0.00000000 MGA |
| 1 QRL = | 53.4200000 MMK |
| 1 QRL = | 4.99600000 MVR |
| 1 QRL = | 303.890000 MWK |
| 1 QRL = | 3.56400000 MXN |
| 1 QRL = | 0.73620000 MYR |
| 1 QRL = | 0.00000000 MZN |
| 1 QRL = | 3.98000000 NAD |
| 1 QRL = | 100.040000 NGN |
| 1 QRL = | 0.54020000 NMC |
| 1 QRL = | 3.46700000 NOK |
| 1 QRL = | 25.4900000 NPR |
| 1 QRL = | 0.21310000 NVC |
| 1 QRL = | 14.2100000 NXT |
| 1 QRL = | 0.25510000 NZD |
| 1 QRL = | 0.08781000 OMR |
| 1 QRL = | 0.17710000 PAB |
| 1 QRL = | 0.70430000 PEN |
| 1 QRL = | 0.96920000 PGK |
| 1 QRL = | 9.13000000 PHP |
| 1 QRL = | 34.6000000 PKR |
| 1 QRL = | 0.69650000 PLN |
| 1 QRL = | 0.24690000 PPC |
| 1 QRL = | 1004.30000 PYG |
| 1 QRL = | 0.75260000 QAR |
| 1 QRL = | 0.78090000 RON |
| 1 QRL = | 18.7800000 RSD |
| 1 QRL = | 13.1700000 RUB |
| 1 QRL = | 0.64830000 SAR |
| 1 QRL = | 1.69600000 SEK |
| 1 QRL = | 0.23580000 SGD |
| 1 QRL = | 9.46000000 STR |
| 1 QRL = | 0.00000000 SVC |
| 1 QRL = | 3.13200000 SZL |
| 1 QRL = | 5.90200000 THB |
| 1 QRL = | 0.13040000 TND |
| 1 QRL = | 26.3600000 TOP |
| 1 QRL = | 2.36500000 TRY |
| 1 QRL = | 1.65400000 TTD |
| 1 QRL = | 5.66800000 TWD |
| 1 QRL = | 388.010000 TZS |
| 1 QRL = | 4.95600000 UAH |
| 1 QRL = | 765.710000 UGX |
| 1 QRL = | 0.17480000 USD |
| 1 QRL = | 9.78900000 UYU |
| 1 QRL = | 2427.23000 UZS |
| 1 QRL = | 186662.0600 VEF |
| 1 QRL = | 3.58200000 VND |
| 1 QRL = | 0.41420000 VTC |
| 1 QRL = | 15.1800000 VUV |
| 1 QRL = | 0.00000000 WST |
| 1 QRL = | 114.610000 XAF |
| 1 QRL = | 0.00081270 XMR |
| 1 QRL = | 120.070000 XOF |
| 1 QRL = | 0.58270000 XPM |
| 1 QRL = | 0.22050000 XRP |
| 1 QRL = | 2.75300000 ZAR |
| 1 QRL = | 3.49500000 ZMW |
Quantum Resistant Ledger Future Plans
Further improvement of functioning units. Adjustment of platform parameters. Simplification and accessibility of tools in the platform interface, followed by simplification of the API, which will allow devices and applications to be efficiently interfaced with the system. Amplitude archiving of messages.
Results
- Pros. The creators certainly did a good job on their creation. Computers with the continuous use of quantum mechanics are in the future, and no one except Quantum Resistant Ledger has yet thought about the safety of their working moments.
A clear sequence has been introduced into the working phase of the project’s blockchain technology.
Program specialists do not hide the fact that the work will be labor-intensive and requires a lot of intellectual investment, but at the same time they retain their inner enthusiasm and even try to explain the principle of operation of the entire mechanism. The work process has been going on for more than 2 years, so they really want to bring the project to light, and not abandon it as hopeless work.
- Minuses. Quantum computers do not currently exist. Of course, the global network is full of information about such developments - from Wikipedia to mediocre scientific articles. Therefore, in practice it is not yet possible to verify the degree of protection offered.
Within the platform, only transfers of digital funds can be made, which can be performed through other exchange structures.
Quantum Resistant Ledger does not offer any more services for now. You can buy Quantum Resistant Ledger (QRL) cryptocurrency on the Bittrex cryptocurrency exchange. There is a possibility that BTC and ETH already have similar protection, then, when quantum computing devices appear, they will be able to independently understand the dangerous situation that has arisen.
