Quantum computing is a rapidly-emerged technology that channels the laws of quantum mechanics to solve complex problems, impossible for classical computers to encode. With time, the rise in quantum computers has overpowered traditional computers and has marked a milestone in the development of quantum computers.
However, some research institutes have predicted that the continuous rise of quantum supremacy will slowly and steadily overtake the blockchain space. Thus, to protect blockchain technology from quantum computing attacks, there was a need for quantum-safe blockchain technology.
Fortunately, the second quarter of 2018 witnessed the launch of Quantum Resistant Ledger (QRL). It took two years of thorough development, several third-party audits, and the first enterprise-grade post-quantum secure blockchain with the XMSS signature scheme to launch QRL.
What is Quantum Resistant Ledger (QRL)?
The Quantum Resistant Ledger (QRL) is a complete quantum-resistant blockchain network. The former is a reliable blockchain platform secured by XMSS. XMSS is a NIST-approved, hash-based secure digital signature scheme, making the platform resistant to quantum attacks. A development ecosystem and a suite of applications complement the platform’s security.
The comprehensive blend of various aspects enables users to build their blockchain applications using the quantum-resistant network. Besides securing the network against inevitable traditional and quantum computing, QRL also has the potential for a black swan event. It rapidly and irreversibly advances the technology with no immediate warning.
Key features
There are numerous features attached to the QRL network delivering a utility-based platform for developers and users:
- Secure digital assets: The ledger provides safe digital assets to its users, avoiding current and emerging cryptographic threats. The suite of applications guarantees a range of options for the safe custody of QRL digital assets. The former also enables interactions with the public and private post-quantum secure blockchains built on the platform’s core protocol.
- Post-quantum secure communications: The ledger combines on-chain lattice key storage with its strong transitory messaging layer to internode communication. It is a first-of-its-kind post-quantum secure messaging layer for extremely secure virtual communications.
- Broad integration and diverse ecosystem: QRL delivers a strong integration accompanied by a pioneer in hardware digital assets storage solutions to its users. In addition, it has an open development infrastructure and audited and open-source cryptographic algorithms. The platform delivers a rich API experience for developers, making QRL a healthy-enterprise grade solution.
- Idealistic security: QRL is the first industrial implementation to utilize IETF-specified XMSS. The latter enables users to secure present and future attacks using quantum computers. XMSS is a hash-based, secure signature scheme with minimal security assumptions and reusable addresses in alignment with NIST approval.
- Developer-oriented: The platform is built-in, with comprehensive tools, documentation, and a rich API, allowing the tools to build anything on an industrial-grade network for today and tomorrow. Features such as Quantum Resistant Token (QRT) support, on-chain message support, etc. result in QRL being a developer-friendly platform.
- User-friendly: The platform is a full suite of products, designed keeping in mind the end-user. The former caters to numerous user demands, from integrations with hardware wallets to mobile applications. The download page of QRL has products for desktops, like Windows, Mac, and Linux, for mobile applications, including iOS and Android, and the web browser.
Quantum-secured cryptography
There are numerous IT sectors and operational technology systems based on public-key cryptography. Cryptographic algorithms are mathematical functions that transform data with the help of a key to protect information. QRL is a NIST(National Institute of Standards and Technology) approved quantum-secured cryptography.
The cryptography enables the platform to test post-quantum cryptography algorithms with their software. Moreover, it allows QRL to decide whether information security outweighs the efficiency losses ahead of a federally mandated transition. The NSIT approval helps QRL understand the impact of post-quantum cryptography on their network’s performance and behavior.
Quantum currency
Quantum currency is the scientific alternative to cryptocurrencies. It aims to replace central banking and enable precise and consistent integrity of the movement of funds. Quantum Resistant Ledger combines blockchain technology and quantum currency and provides a tech-based financial solution for users.
Quantum currency enables QRL for efficient data analysis, high-security standards, and improved customer experience. The Ledger with quantum money has created a unique currency (QRL coins), impossible to clone, reproduce, or copy.
Security audits
Red4sec, a business initiative formed by experts and security analysts with years of experience in cybersecurity, audits the QRL network. The rapid growth of technologies and outsourcing of services by various firms increase the risk appearance affecting the secrecy, integrity, and accessibility of information. Red4sec aims to provide information security solutions and protect organizations by reducing the risk caused by security vulnerabilities.
To undertake a secondary security audit, QRL signed an agreement with X41 D-Sec GmbH. The latter leverages some of the specific expertise at X41, covering the post-quantum cryptography portion of QRL. Besides, it helps platforms to handle vulnerabilities in products under development. Beyond identifying individual vulnerabilities, X41 shows ways to improve the product’s infrastructure in design and make it resilient even against future threats.
Final word
Quantum Resistant Ledger (QRL) marks the future of blockchain technology without any worry of quantum attacks. Broad integration, secure digital assets, and post-quantum secure communications make QRL a highly secure one-of-a-kind blockchain platform.
The QRL coin has a circulating supply of 76,403,154.90 QRL coins with a supply cap of 105,000,000 QRL coins. The project abides by its vision to provide users with similar features as Bitcoin and Ethereum while providing fairer mining processes, high security, and better staking algorithms. Quantum Resistant Ledger is a network that meets the needs of the present generation while addressing the demands of upcoming generations.
To know more about Quantum Resistant Ledger, please visit the official website.
Disclaimer: This is a paid post and should not be treated as news/advice.
Source: https://ambcrypto.com/quantum-resistant-ledger-a-future-proof-blockchain-technology-platform/