Decentralised technology is constantly evolving, but so are the threats that can compromise its security. Many blockchain networks today rely on cryptographic methods that are considered secure against classical computing attacks.
However, the development of quantum computing presents a new risk. Quantum computers have the potential to break widely used encryption techniques, making many existing blockchain systems vulnerable in the future.
To prepare for this challenge, new blockchain solutions are being developed with quantum-resistant security in mind.
One of the leading projects addressing this issue is Quantum Resistant Ledger (QRL). QRL is designed from the ground up to resist quantum-based attacks, ensuring that digital assets remain protected even as computing power advances.
What is the Quantum Resistant Ledger?
QRL is an enterprise-grade blockchain platform that has been externally audited and designed to ensure long-term security against the advances of quantum computing.
Source: QRL
Unlike many other blockchain networks that use traditional encryption methods, QRL is built with post-quantum security from its foundation.
It is the first large-scale implementation of the eXtended Merkle Signature Scheme, a cryptographic approach that has been approved by the National Institute of Standards and Technology.
Source: QRL
This implementation ensures that QRL remains resistant to quantum-based attacks, making it a secure option for those concerned about the long-term safety of digital assets.
From its very first block, QRL has used an extensible address format that incorporates quantum security measures.
This makes it one of the few blockchain networks that do not rely on classical cryptographic techniques, which are expected to become vulnerable in the coming years.
The project is open source, allowing developers to verify and contribute to its codebase, and has undergone independent security audits by Red4Sec and x41 D-Sec to confirm its robustness.
One of the defining aspects of QRL is its commitment to being accessible and developer-friendly. The project provides extensive documentation, making it easier for developers to build applications using its blockchain.
Additionally, it offers multiple user-friendly applications across desktop, mobile, and web platforms, ensuring that interacting with the QRL network does not require advanced technical knowledge.
The core mission of QRL is to provide a secure and enterprise-grade blockchain solution that takes into account the future risks posed by quantum computing.
Most blockchain networks today rely on elliptic curve cryptography, which is secure against classical attacks but vulnerable to quantum algorithms.
By using a post-quantum cryptographic system, QRL ensures that digital assets remain secure regardless of technological advancements in computing.
This approach makes it one of the few blockchain projects that are proactively addressing a problem that could affect the entire industry in the future.
How Does Its Infrastructure Work?
QRL is built to resist quantum-based attacks by using cryptographic techniques that are secure against both classical and quantum computers. To understand why this is necessary, it is important to compare classical and quantum cryptography.
Source: QRL
Classical Cryptography
- Most existing blockchain networks, including Bitcoin and Ethereum, use elliptic curve cryptography (ECC) to secure transactions.
- This method is based on mathematical problems that are difficult for classical computers to solve, making brute-force attacks impractical.
- It has been considered secure for years, but its safety relies on the assumption that computers will not become fast enough to break it in a reasonable timeframe.
Quantum Cryptography and its Threat to Blockchain
- Quantum computers operate differently from classical computers by using qubits instead of traditional bits.
- Shor’s algorithm, a quantum algorithm, can efficiently factor large prime numbers, meaning it can break ECC encryption once quantum computers reach sufficient power.
- If quantum computers become widely available, blockchain networks that rely on ECC may become vulnerable to attacks, allowing hackers to derive private keys from public keys.
QRL’s Approach to Quantum Resistance
To counter this problem, QRL has adopted post-quantum cryptography that remains secure even if quantum computers become more advanced. Its key features include:
- Implementation of XMSS: Unlike ECC, XMSS is resistant to quantum attacks because it does not rely on factorisation problems that quantum computers can solve.
- One-time-use keys for enhanced security: XMSS generates unique keys for each transaction, reducing the risk of a private key being exposed.
- Extensible address format: From its genesis block, QRL was built with an address format designed to accommodate future cryptographic advancements.
Although post-quantum cryptography introduces some challenges, such as larger signature sizes, QRL has optimised its implementation to maintain efficiency while ensuring security.
By taking a proactive approach, QRL provides a solution that does not require future overhauls to remain secure.
Current Roadmap
QRL is continuously improving its network to enhance security, efficiency, and usability. Its roadmap outlines several major developments that are set to strengthen its position as a quantum-resistant blockchain.
Planned Upgrades and Network Enhancements:
- Transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS):
- QRL currently operates on a PoW consensus model, similar to Bitcoin.
- It plans to move to PoS, which will improve energy efficiency and scalability while maintaining security.
- This transition is scheduled for 2025.
- Integration with the Ethereum Virtual Machine (EVM):
- The upgrade will allow developers to deploy smart contracts using Solidity, the same language used on Ethereum.
- This will make QRL compatible with Ethereum-based decentralised applications while keeping quantum-resistant security in place.
- Ongoing research into cryptographic improvements:
- The team is continuously evaluating new cryptographic techniques to ensure that the blockchain remains secure and adaptable.
- Future upgrades may include improvements to signature aggregation to optimise transaction efficiency.
By maintaining an open-source approach and conducting independent audits, QRL ensures that its development remains transparent and security-focused.
The QRL Token
The QRL token plays a key role in the Quantum Resistant Ledger network, serving as a secure medium for transactions, staking, and future smart contract interactions.
As a blockchain designed to withstand quantum computing threats, QRL’s tokenomics reflect a long-term approach to sustainability and security.
Utility and Use Cases
- Transaction fees: QRL tokens are used for paying transaction fees on the network.
- Staking rewards: Once the network transitions to PoS, QRL holders will be able to stake tokens to secure the blockchain and earn rewards.
- Smart contract interactions: With EVM compatibility, QRL tokens will be usable in Ethereum-based decentralised applications.
As concerns about quantum computing grow, QRL’s quantum-resistant security model could make it an attractive long-term option for asset protection.
Source: QRL
The QRL token itself serves as the core unit of value within the Quantum Resistant Ledger network, playing an essential role in transactions, staking, and governance.
Token Economics
- Total supply: 105M tokens
- Circulating supply: 78.39M tokens
- Emission model: Follows an exponential decay schedule, meaning the number of new tokens released decreases over time.
- Market capitalisation: $52.25M
The price of QRL has recently surged by 58.9% in the past 24 hours, bringing its value to $0.6376.
Source: Coingecko
Over the past seven days, the token has gained 105.2%, indicating a significant increase in demand.
The recent price movement suggests heightened interest in quantum-resistant blockchain technology, potentially driven by growing concerns about quantum computing’s impact on traditional encryption.
Despite this rapid increase, short-term price fluctuations are evident, with a 9.6% decline in the past hour, suggesting market corrections after the strong rally.
However, the longer-term trends remain positive, with an 88.8% gain in the past 14 days and a 51.7% increase over the last 30 days. Over the past year, QRL has risen by 80.9%, demonstrating steady growth over time.
This recent price surge may be attributed to a combination of increased market awareness, ongoing network developments, and anticipation of QRL’s PoS transition and EVM integration.
While price movements can be influenced by speculation, the project’s technical foundation and security focus set it apart from standard blockchain projects that rely on classical cryptography.
As quantum computing continues to advance, discussions around post-quantum security solutions are likely to become more relevant.
QRL stands out as one of the few blockchain networks that have proactively addressed this issue, which may contribute to sustained market interest in the long run.
Conclusion
Quantum computing presents a significant challenge for existing blockchain security methods. Most blockchain networks continue to rely on cryptographic techniques that may become obsolete as computing power increases.
This makes it necessary to explore post-quantum solutions that can provide long-term security. By implementing XMSS, conducting independent audits, and maintaining a transparent development approach, it offers a secure foundation for digital asset protection.
With its transition to PoS, integration with Ethereum’s ecosystem, and commitment to security improvements, QRL is positioned as a strong alternative for those looking to secure their assets against future threats.