I don't really understand the "platform" features. The whitepaper is badly out of date on some issues (including the initial distribution discussed above - the distribution by Bitcoin swap is "inoperative"). They say they will have it updated soon.
For more up-to-date information see the blog at https://medium.com/the-quantum-resistant-ledger.
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"Natively quantum resistant ledger is the perfect platform to build on."
Is it going to act like a platform for others to build their project? Is that what you mean to sat? Wow! that would be a great news, but I have not seen this feature mentioned anywhere, may be I will skim through again on their whitepaper.
Is it going to act like a platform for others to build their project? Is that what you mean to sat? Wow! that would be a great news, but I have not seen this feature mentioned anywhere, may be I will skim through again on their whitepaper.
Sounds like a scam to me. 1:1 swap with bitcoin?? BTC is now trading > $5500 and a QRL is at 0.70. Besides, the circulation of QRL ~100,000,000, not 21 million.
Nice catch
QRL is an ERC20 token right now but will move to its own blockchain hopefully in about 3 months (but who knows about these things). At that time the ERC20 tokens will be swapped for QRLs on their own blockchain. Somebody had a brief mental lapse there - of course there's no swap with Bitcoin.
QRL is probably actually a decent coin. It solves a genuine problem to which most coins are vulnerable. I have done my research and I am impressed by the development team. Contrary to what might be implied by the OP, they are not rolling their own cryptography but are using established techniques. This coin is designed from the ground up to be quantum resistant, it's not just an add-on.
There has been a flood of articles in the past six months about advances in quantum cryptography. Google supposedly has a 39 qbit machine nearing completion. Google "quantum chip" if you want to see how fast things are moving.
Interestingly, I think Curecoin was the first with a quantum resistant algorithm. It's been out for a year or two already. Curecoin does protein folding calculations for medical research for its POW algorithm, which is one of the primary applications for a quantum computer. There must be a connection there somewhere.
Disclaimer - not surprisingly, I have a position in QRL. No position in Curecoin.
No mental lapse here. Please see the edit I made on the post. In the whitepaper, QRL states they will honor a 1:1 swap of Bitcoin to QRL up until a certain block. It is optional, however. You were correct as well, that QRL is not adding their own cryptography to the existing techniques used in the project. I will make the edits, accordingly.
Here's the QRL thread: https://bitcointalk.org/index.php?topic=1730273.600
This post from that thread might answer some questions:
This project is A LOT more than simply quantum resistance. I quote for you couple of my earlier posts in this thread to save time and they also explain why implementing real quantum resistance on existing chains is a no go. Look how many years it has taken and still debate is ongoing about BTC scaling it's a nightmare to implement anything on existing chains.
No there is no quantum resistant crypto out there other than IOTA, but IOTA is a DAG (+ last time I checked the consensus in IOTA is centralized it's not even decentralized). I know there have been a few cryptos to make this claim because they use really long keys or whatever, but they still use Elliptic-curve cryptography. Quantum computer can use shor's algorithm to break this kind of cryptography which is used basicly in all crypto's today.
Yes it is a big problem to integrate real quantum resistance or they would have done it already and most of them don't even have any plans to do it. Ethereum is saying they will do it, but the way Vitalik is saying now that they plan to do it is to implement one time keys scheme and it will be optional. One time key scheme will simply not be enough it's more like a marketing stunt and Vitalik can't implement any real quantum resistant solution because that would bottleneck he's already struggling network. He wants the network to scale or the idea of Ethereum dies and what is even worse is that it will be optional that leaves a lot of addresses compromised and will be devastating in a post QC event.
What is unique in QRL you ask?
1) Use of stateful XMSS signatures to secure addresses.
2) Custom hash-based POS algorithm generating randomness using hash-based PRF and iterative keyed hash-chains.
3) Ephemeral messaging layer with anonymous completely private post-quantum secure end-end data channels.
I would also add that the team is unique. They even have a post-quantum cryptography researcher in the team (which there are only a few in the whole World) who is also working on a post-quantum protection project funded by the European Commission. The lead dev is really a genius and most friendly person I have met in crypto and they are not greedy. They could have have collected 10's or 100's of millions for this project like many others have done, but they capped crowdfund at 4M$ because anything more would just be greed. They really believe in their vision and that this is important for the World. Rest of the team is just as awesome they have really delivered these past months. You can see this on Github and if you join the alpha testers.
As some wise man once said. Invest in people, not ideas.
Below is also the roadmap for features to be implemented after mainnet launch.
https://theqrl.org/roadmap.html
Natively quantum resistant ledger is the perfect platform to build on.
This post from that thread might answer some questions:
Quantum resistant blockchain is a good idea but their is already many project working on it and usually it is just a security feature of the project and not them main feature. Your coin should bring something else or you should better put your effort to help some already working poject with your competences in quantum resistant blockchain.
This project is A LOT more than simply quantum resistance. I quote for you couple of my earlier posts in this thread to save time and they also explain why implementing real quantum resistance on existing chains is a no go. Look how many years it has taken and still debate is ongoing about BTC scaling it's a nightmare to implement anything on existing chains.
I still dont get it what QRL makes unique. There are already quantum resistant coins out there and it seems to be no big problem to integrate quantum resistant mechanism in existing coins in the future.
So can anyone explain me what QRL makes special? I really dont understand it but i want
So can anyone explain me what QRL makes special? I really dont understand it but i want
No there is no quantum resistant crypto out there other than IOTA, but IOTA is a DAG (+ last time I checked the consensus in IOTA is centralized it's not even decentralized). I know there have been a few cryptos to make this claim because they use really long keys or whatever, but they still use Elliptic-curve cryptography. Quantum computer can use shor's algorithm to break this kind of cryptography which is used basicly in all crypto's today.
Yes it is a big problem to integrate real quantum resistance or they would have done it already and most of them don't even have any plans to do it. Ethereum is saying they will do it, but the way Vitalik is saying now that they plan to do it is to implement one time keys scheme and it will be optional. One time key scheme will simply not be enough it's more like a marketing stunt and Vitalik can't implement any real quantum resistant solution because that would bottleneck he's already struggling network. He wants the network to scale or the idea of Ethereum dies and what is even worse is that it will be optional that leaves a lot of addresses compromised and will be devastating in a post QC event.
What is unique in QRL you ask?
1) Use of stateful XMSS signatures to secure addresses.
2) Custom hash-based POS algorithm generating randomness using hash-based PRF and iterative keyed hash-chains.
3) Ephemeral messaging layer with anonymous completely private post-quantum secure end-end data channels.
I would also add that the team is unique. They even have a post-quantum cryptography researcher in the team (which there are only a few in the whole World) who is also working on a post-quantum protection project funded by the European Commission. The lead dev is really a genius and most friendly person I have met in crypto and they are not greedy. They could have have collected 10's or 100's of millions for this project like many others have done, but they capped crowdfund at 4M$ because anything more would just be greed. They really believe in their vision and that this is important for the World. Rest of the team is just as awesome they have really delivered these past months. You can see this on Github and if you join the alpha testers.
As some wise man once said. Invest in people, not ideas.
Below is also the roadmap for features to be implemented after mainnet launch.
https://theqrl.org/roadmap.html
Natively quantum resistant ledger is the perfect platform to build on.
What would be the process of an ERC-20 token "swapping" for a QRL? Would the ERC-20 tokens somehow cease to exist? Is that possible? How would the QRL blockchain be able to use the private keys from the ERC-20 token, since the protocol would have to be different?
There will be means to burn one's ERC20 tokens in exchange for mainnet tokens. Beyond that, I don't know the details. Such an exchange is far from unprecedented though.
What would be the process of an ERC-20 token "swapping" for a QRL? Would the ERC-20 tokens somehow cease to exist? Is that possible? How would the QRL blockchain be able to use the private keys from the ERC-20 token, since the protocol would have to be different?
Sounds like a scam to me. 1:1 swap with bitcoin?? BTC is now trading > $5500 and a QRL is at 0.70. Besides, the circulation of QRL ~100,000,000, not 21 million.
Nice catch
QRL is an ERC20 token right now but will move to its own blockchain hopefully in about 3 months (but who knows about these things). At that time the ERC20 tokens will be swapped for QRLs on their own blockchain. Somebody had a brief mental lapse there - of course there's no swap with Bitcoin.
QRL is probably actually a decent coin. It solves a genuine problem to which most coins are vulnerable. I have done my research and I am impressed by the development team. Contrary to what might be implied by the OP, they are not rolling their own cryptography but are using established techniques. This coin is designed from the ground up to be quantum resistant, it's not just an add-on.
There has been a flood of articles in the past six months about advances in quantum cryptography. Google supposedly has a 39 qbit machine nearing completion. Google "quantum chip" if you want to see how fast things are moving.
Interestingly, I think Curecoin was the first with a quantum resistant algorithm. It's been out for a year or two already. Curecoin does protein folding calculations for medical research for its POW algorithm, which is one of the primary applications for a quantum computer. There must be a connection there somewhere.
Disclaimer - not surprisingly, I have a position in QRL. No position in Curecoin.
Sounds like a scam to me. 1:1 swap with bitcoin?? BTC is now trading > $5500 and a QRL is at 0.70. Besides, the circulation of QRL ~100,000,000, not 21 million.
Nice catch
This guy is nicely held above 10K during the tough times, I expect it to have a good rise after 2X
Not only NXS is a QR, ETH too building QR through Meteropolis.... Down the line, all major coins will have QR feature/ function covered in their coin as it is imminent. For short to medium term both QRL and NXS are good choice
Not only NXS is a QR, ETH too building QR through Meteropolis.... Down the line, all major coins will have QR feature/ function covered in their coin as it is imminent. For short to medium term both QRL and NXS are good choice
Quantum computing has been progressing rapidly in the past few years. If it is achieved, it will be used to answer questions mankind has had for millennia. Applications for quantum computing could be to predict the exact outcome of any event like natural disasters, wars, and economical catastrophes. Quantum computing could even be used to create new technology that a human could not conceive on its own. It can also be used for more nefarious purposes.
Blockchain technology has been scaring the global powers since 2009, the inception of Bitcoin. It scares them because governments, corporations, and people cannot control it. It scares them because it can be used to undermine a failing and greedy financial institution that only gives wealth to people who already have it. Blockchain technology is here to stay but with a rising technology threatens the future of the Blockchain.
Quantum computing attacks have been prophesiezed since the birth of advanced cryptography algorithms. Cryptography systems, such as AES256, RSA, and Diffie-Helman are secure against the computers of today. In the future, possibly the near future, cryptography will be undermined by the advancement of Quantum Computing. This means that user's identities, accounts, and funds will all be compromised on the Blockchain. Defeating the cryptography used in Blockchain will be easily defeated and used to control the system that was designed to be indestructible.
Enter Quantum Resistant Ledger. This project offers a solution to the looming threat of Quantum Computing attacks on cryptography. QRL uses XMSS, eXtended Merkle Signature Scheme, to secure transactions and addresses against attacks against the blockchain. XMSS is a more advanced version of the Merkle Tree, except that each node is hashed again in the child node before being added to the parent node. Think of it as hashing a hash. It adds an additional and HUGE level of complexity to the already complex encryption scheme. This specific system is almost impossible for supercomputers to solve. It would take many millions of years to reverse it. Quantum computers are a little different. Given they use quantum-mechanics to perform computing tasks, a basic AES256 encrypted password would be compromised within a matter of seconds. QRL will use XMSS, with their own technology not yet announced, to create a ledger impervious to Quantum Computers and their power.
QRL will offer a 1:1 swap of Bitcoin for QRL tokens that can be used on the Quantum Resistant Ledger. QRL has a max supply 21,000,000 tokens, which means you will have the same balance of QRL as you did with Bitcoin. If you choose to swap, your investment will be safe from the governments and corporations that will acquire Quantum Computers to not only better the world, but to also control it.
Blockchain technology has been scaring the global powers since 2009, the inception of Bitcoin. It scares them because governments, corporations, and people cannot control it. It scares them because it can be used to undermine a failing and greedy financial institution that only gives wealth to people who already have it. Blockchain technology is here to stay but with a rising technology threatens the future of the Blockchain.
Quantum computing attacks have been prophesiezed since the birth of advanced cryptography algorithms. Cryptography systems, such as AES256, RSA, and Diffie-Helman are secure against the computers of today. In the future, possibly the near future, cryptography will be undermined by the advancement of Quantum Computing. This means that user's identities, accounts, and funds will all be compromised on the Blockchain. Defeating the cryptography used in Blockchain will be easily defeated and used to control the system that was designed to be indestructible.
Enter Quantum Resistant Ledger. This project offers a solution to the looming threat of Quantum Computing attacks on cryptography. QRL uses XMSS, eXtended Merkle Signature Scheme, to secure transactions and addresses against attacks against the blockchain. XMSS is a more advanced version of the Merkle Tree, except that each node is hashed again in the child node before being added to the parent node. Think of it as hashing a hash. It adds an additional and HUGE level of complexity to the already complex encryption scheme. This specific system is almost impossible for supercomputers to solve. It would take many millions of years to reverse it. Quantum computers are a little different. Given they use quantum-mechanics to perform computing tasks, a basic AES256 encrypted password would be compromised within a matter of seconds. QRL will use XMSS, with their own technology not yet announced, to create a ledger impervious to Quantum Computers and their power.
QRL will offer a 1:1 swap of Bitcoin for QRL tokens that can be used on the Quantum Resistant Ledger. QRL has a max supply 21,000,000 tokens, which means you will have the same balance of QRL as you did with Bitcoin. If you choose to swap, your investment will be safe from the governments and corporations that will acquire Quantum Computers to not only better the world, but to also control it.
I AM NOT AFFILIATED WITH THE QRL PROJECT. THESE OPINIONS ARE SOLELY MY OWN.
Heard of nexus?
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