What is Quantum (QRL)?
Future of QRL Cryptocurrency and know how to buy QRL

#1 – What is Quantum Resistant Ledger?

Quantum Resistant Ledger: The Basics

  1. Quantum Resistant Ledger is a cryptocurrency based on the Python programming language, aimed at combating future attacks by quantum computers.
  2. This cryptocurrency is the brainchild of Peter Waterland who realised that Bitcoin, Ethereum, and other such cryptocurrencies have no protection against future technology.
  3. It claims to be a “future-proof” cryptocurrency which enables transactions and decentralized communication while providing protection against classical as well as quantum computer attacks.

Quantum Resistant Ledger Development

  1. The Quantum Resistant Ledger company was founded by Peter Waterland, who found that Bitcoin, as well as Ethereum signatures are susceptible to attacks by powerful quantum computers.
  2. His research on quantum computers and signature programs let to the development of this new cryptocurrency, designed to be resistant to the present classical attacks as well as any future quantum computer attacks.
  3. Their team is made up of a diverse range of members spread out across the world, including developers (core, blockchain, mobile developers, etc.), analysts, advisors, marketing managers, designers and more.

 

#2 – What are the advantages of Quantum Resistant Ledger?

Quantum Resistant Ledger Technology

  1. Digital signatures used in most cryptocurrencies are based on elliptic curve public-key cryptography. The commonly used signature algorithms like ECDSA, DSA and RSA are vulnerable to attacks by quantum computers.
  2. The fork which would make the common cryptocurrencies of today like Bitcoin and Ethereum resistant to quantum computing attacks would be a major had fork, which is likely to lead to instability and high volatility.
  3. There do exist cryptographic algorithms which are already resistant to these attacks, like hash-based cryptography, code-based cryptography, lattice-based cryptography, etc.
  4. The Quantum Resistant Ledger cryptocurrency uses the hash-based digital signature scheme to combat the anticipated quantum attacks as it has minimal security requirements and is said to be the simplest to implement among all the quantum resistant schemes.
  5. Hash-based signatures rely on a one-way cryptographic hash function which takes a message and gives a hash digest of fixed length as output. It is supposed to be computationally infeasible to attack the platform.
  6. The digital signatures use a public key for verification and a private key for signing a message, making it secure against attacks.
  7. QRL uses an asymmetric “hypertree” signature scheme using chained extended merkle signature scheme (XMSS) trees, which is secure as well as provably unforgeable.
  8. The consensus algorithm to be used is Proof-of-Stake, with a consequent block time of around 15-30 seconds.

 

#3 – How to buy and store Quantum Resistant Ledger tokens (QRL)?

How to buy QRL

Quantum Resistant Ledger tokens (QRL) are available for exchange in 6 platforms including Bittrex, Upbit, Liqui, ForkDelta, CoinExchange and Tidex. Most exchanges accept Bitcoin, Ether or both as payment, but some also accept other cryptocurrencies like WAVES, its fiat versions like WEUR and WUSD, and Tether.

There is only one exchange available as of August 2018 which accepts any fiat currency in exchange for QRL tokens – Upbit, which accepts Korean Won.

  1. These are just platforms where you can buy or sell QRL tokens, but help is often needed to decide which one to buy from. This is where CoinSwitch, one of the best cryptocurrency exchanges, assists, by displaying the prices at the exchanges it’s sold in, all at one place. It supports more than 140 coins and 45,000 pairs of cryptocurrencies. You can choose any pair you want with your QRL token, and CoinSwitch will help you decide the best one for you!
  2. What’s more - with CoinSwitch, you need not rely on wallets on the exchange you’re buying from. Instead, all transactions can happen to and from your very own private wallets.

QRL Storage

  1. Quantum Resistant Ledger is on the Ethereum blockchain, so the QRL token can be stored in any of the numerous wallets compatible with Ethereum.
  2. Hardware wallets are the most secure, and Ledger Nano S as well as Trezor work for ERC20 tokens.
  3. Exodus and Mist are desktop wallets for which store Ethereum and tokens on its blockchain. It is compatible with Windows, Linux and Mac operating systems.
  4. Jaxx, another Ethereum wallet, functions as a desktop wallet for Windows, Linux and Mac PCs, a mobile wallet for Android and iOS phones, as well as a web wallet through Chrome and Firefox extensions, making it one of the most versatile wallets around.
  5. MyEtherWallet is its most popular Web wallet, and ETHAdress is one of the paper wallets storing ERC20 tokens.
  6. Quantum Resistant Ledger also has its own native wallets, including a web wallet as well as a desktop wallet compatible with Windows, Linus and Mac Operating Systems.

 

#4 – What is the future of Quantum Resistant Ledger?

Also Read: Complete Analysis of Quantum | Live Quantum (QRL) Price Charts And Predictions

Market Cap and Global Acceptance

  1. The ICO for Quantum Resistant Ledger (QRL) tokens was held in May 2017, selling 52 million tokens and raising about $4.16 million USD in the process.
  2. The total maximum supply of QRL tokens is 105 million tokens, distributed as follows:
    1. 52 million tokens were sold in the ICO
    2. 13 million tokens were held back by the foundation and developers
    3. The remaining 40 million tokens will be given as block rewards to miners in a span of 200 years from the date of the ICO.
  3. The circulating supply of Quantum Resistant Ledger tokens is 52 million QRL, with a market cap of about $21.13 million USD and an individual price of about $0.406 USD as of August 2018.

Price History

Date

Open

High

Low

Close

Volume

Market Cap

Aug 06, 2018

0.38318

0.441913

0.383067

0.40758

3,55,651

1,99,25,377

Aug 01, 2018

0.547144

0.547662

0.462282

0.472978

2,18,485

2,84,51,494

Jul 01, 2018

0.505247

0.508201

0.441556

0.452692

3,11,038

2,62,72,844

Jun 01, 2018

0.788797

0.824314

0.781108

0.798711

2,70,329

4,10,17,432

May 01, 2018

1.26

1.3

1.2

1.27

4,99,344

6,56,20,000

Apr 01, 2018

0.849086

0.858079

0.766064

0.816621

3,70,074

4,41,52,480

Mar 01, 2018

1.12

1.27

1.07

1.26

8,26,656

5,81,13,796

Feb 01, 2018

1.66

1.72

1.25

1.39

6,69,323

8,64,34,696

Jan 01, 2018

2.37

2.57

2.2

2.44

18,17,320

12,30,65,152

Dec 01, 2017

0.993753

1.15

0.956195

1.09

4,92,158

5,16,75,152

Nov 01, 2017

0.708

0.715045

0.595932

0.633795

3,77,148

3,68,15,980

Oct 01, 2017

0.638941

0.695062

0.604583

0.637212

7,29,410

3,32,24,956

Sep 01, 2017

0.787644

0.82104

0.723315

0.8078

6,88,437

4,09,57,492

Aug 01, 2017

0.325512

0.355623

0.288937

0.342685

4,18,163

1,69,26,632

Jul 01, 2017

0.744889

0.754561

0.630999

0.643501

4,45,037

3,87,34,204

Jun 10, 2017

0.734457

0.992519

0.550558

0.740533

29,71,120

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Trends so far

  1. The QRL cryptocurrency is just about a year old, so its trends are difficult to predict statistically. However, it has had its fair share of ups and downs, with the maximum value of the token being $3.81 in January 2018, more than 10 times its minimum value of about $0.305 in July 2018. It was launched in June 2017 with a price of about $0.74 per QRL, and its current price as of August 2018 is about $ 0.4.
  2. QRL’s moderate circulating supply combined with its relatively moderate individual price has put the Quantum Resistant Ledger on a moderately high rank (among the first 250 cryptocurrencies) in global market cap rankings. As of August 2018, it stands on the 247th position among cryptocurrencies worldwide.
  3. The fact that QRL has risen to a position among the first 250 in a matter of a year already makes the token attractive to investors. Its idea of a technology which anticipates and prevents possible attacks by quantum computers also makes its future a promising one.

 

#5 – What makes Quantum Resistant Ledger different from other cryptocurrencies?

  1. Quantum Resistant Ledger is the first ever cryptocurrency and the only one in existence as of August 2018, to consider the threat that the future technology of quantum computing poses to cryptocurrencies and their working.
  2. It uses a technology specifically designed for post-quantum security, called XMSS, which makes it secure against powerful quantum computers even while using a Proof-of-Stake consensus mechanism.

 

#6 – Should you invest in QRL?

  1. The high position of QRL in global market cap ranking is encouraging to investors, especially considering its affordable individual price as of August 2018.
  2. Security against cyber-attacks is a very serious concern in this digital age, especially when you have digital assets whose loss is likely to lead you to bankruptcy.
  3. Up until QRL, no one had considered the implications the emerging quantum computing technology would have on cryptocurrencies, especially those following the proof-of-work algorithm.
  4. Such foresight is the need of the hour, making QRL special in its uniqueness, and hence a valuable investment which is very likely to produce high returns in the long run as the threat of quantum computer attacks increases.
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