Quantum Resistant Ledger

Quantum Resistant Ledger is a blockchain platform secured by eXtended Merkle Tree Signature Scheme (XMSS). XMSS is a secure digital signature scheme. An externally audited enterprise-grade blockchain platform, QRL claims to secure today from the quantum computing advances of tomorrow.

According to the whitepaper, there is an imminent threat to blockchains from quantum computing. Today, many blockchains or cryptocurrency ledgers depend on more or less the same technology to generate digital signatures and to verify transactions securely. The most commonly used signature schemes like Digital Signature Algorithm (DSA), Elliptic curve digital signature alogrithm (ECDSA), and RSA cryptography are theoretically susceptible to quantum computing attacks. Thus, the construction and design of a quantum resistant blockchain ledger counter the possible start of nonlinear quantum computing in advance. The platform aims to do so by using hash-based digital signatures resistant to classical and quantum computing attacks.

Some noteworthy features of the QRL blockchain are the following:

The Quantum Resistant Ledger (QRL) aims to use a native token, the Quantum (plural quanta), as the base currency unit. Each quantum is further divisible to a small element. The token can be used as a medium of exchange on the platform. Each transaction can be levied a fee which can be given to miners as rewards.

The whitepaper Quantum Resistant Ledger was released in October 2016. QRL follows a fixed upper limit to the coin supply of 105 X 106 quanta. The team of Quantum Resistant Ledger includes founders and developers Peter Waterland and Kaushal Kumar Singh. Both JP Lomas and Jack Matier serve as core developers. Other skilled members are also an important part of the team.