Alt-Coin Quantum Resistance Ledger (QRL)

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SilverDoge
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Sun Apr 01, 2018

From UNSW in Sydney: The race is on to build the first reproducable two qubit gate in silicon - the building block for a scalable silicon-based quantum computer. UNSW Sydney-led scientists have shown for the first time that they can make two precisely placed phosphorous atom qubits “talk” to each other. Combined with their world-best achievements for a spin qubit lifetime, and for low electrical noise quantum circuitry, the team is uniquely poised to build a reproducable two qubit gate.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Tue Apr 03, 2018

Token migration begins in under 24 hours. Countdown here: https://migration.theqrl.org/ Date for genesis MainNet launch still TBD.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby ttitle » Tue Apr 03, 2018

Would you mind explaining what this means / why this is important... for those people that don't know stuff.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Tue Apr 03, 2018

ttitle wrote:Would you mind explaining what this means / why this is important... for those people that don't know stuff.


QRL is currently an ERC-20 token that runs on the Ethereum Virtual Machine (EVM). What this means is that it is merely a trading token, a placeholder, for the real/actual quanta (quanta = name of the QRL currency). The ERC-20 QRL token does not have any of the QRL features like quantum resistance, ephemeral messaging, and its own blockchain. It runs on the ETH blockchain, like many other projects.

The migration simply means that if you hold 5,000 QRL currently (or whatever number) you will be able to claim your actual QRL through this migration, and end up with 5,000 QRL that is on its own blockchain after genesis. You will need to send you QRL to an ETH burn address. The team will publish a how-to guide that I will post here. It is possible that some exchanges do this automatically if you hold your QRL on that exchange, but no guarantees.

Finally, there will be plenty of time to do this. You don't have to do this on the first day/week. You can wait until MainNet actually launches (which might be the actual smart play). If you migrate before MainNet, you are locked in and can't do any QRL trading if it takes several weeks/months to launch the genesis block.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Brick's » Tue Apr 03, 2018

Could one trade for the quanta prior to the MainNet launch or would it still be the token after the "migration"? Personally, I'd rather avoid the technical aspects of the migration. Of course, this means I should buy and put my self thru the steps when the time comes.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Tue Apr 03, 2018

Brick's wrote:Could one trade for the quanta prior to the MainNet launch or would it still be the token after the "migration"? Personally, I'd rather avoid the technical aspects of the migration. Of course, this means I should buy and put my self thru the steps when the time comes.


Technically the real quanta won't exist until after MainNet launch. Once a person sends their current ERC-20 QRL token to the burn address, you will not have any access to it until launch of MainNet.

One can acquire QRL now, and wait for the MainNet launch and then do the migration all at once - this might be the easier route. Or buy the post-quanta QRL after launch (at a higher price?).

The wild card is how exchanges handle it. Supply will dwindle if people migrate, and MainNet hasn't launched. At some point they will have to switch to trading the true QRL quanta. So they will either migrate for their customers or will force customers to withdraw and migrate themselves.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Wed Apr 04, 2018

Token Migration process in video format:


And in Medium text format: https://medium.com/the-quantum-resistant-ledger/qrl-token-migration-begins-b0d5b53f697f

Again, there is no rush to do this, but all users will need to do it eventually if they already own ERC-20 QRL tokens.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Fri Apr 20, 2018

1) Token migration is over 15% according to the QRL twitter account. I will be waiting to migrate though, until after MainNet launch.

2) QRL was at the London Blockchain Expo this week. The best quote of the conference to Dr. Peter and Dr. JP at the QRL booth was, "Congratulations on being one of only 6 legitimate projects at this conference"

3) The team is hiring 2 separate auditing firms to audit the code. That will be the final step before MainNet. One is already locked in, and a team member said there will be "audit news" next week. Ideally the audits take less than a month.
QRL - Peter & JP at London Blockchain Conferene April 2018.png
QRL - Peter & JP at London Blockchain Conferene April 2018.png (560.66 KiB) Viewed 627 times
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Tue Apr 24, 2018

Quantum Supremacy Explained:
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Recluse » Wed Apr 25, 2018

QRL holding its own today.
Volume up quite a bit. Upbit with more volume than Bittrex.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Thu May 03, 2018

QRL audit #1 has begun...

Red4Sec, our first security auditor who also completed the audit for NEO, is not only doing our audit, but has already begun. Another auditing firm will be joining them shortly after working through the final stages of paperwork, stay tuned!


https://medium.com/the-quantum-resistant-ledger/external-audits-bug-bounties-439db9c94fd2

Also, I have not had the time to watch this just yet, but it came highly recommended:

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Sat May 19, 2018

Some choice quotes from "IBM warns of instant breaking of encryption by quantum computers: Move your data today'

Quantum computers will be able to instantly break the encryption of sensitive data protected by today's strongest security, warns the head of IBM Research. This could happen in a little more than five years because of advances in quantum computer technologies.

Anyone that wants to make sure that their data is protected for longer than 10 years should move to alternate forms of encryption now," said Arvind Krishna, director of IBM Research.

Quantum computers can solve some types of problems near-instantaneously compared with billions of years of processing using conventional computers. Moler said people might feel safe because they have done everything they are supposed to do to secure their existing data -- but quantum computing will break it. "I do think that's scary.

In addition to solving tough computing problems, quantum computers could save huge amounts of energy, as server farms proliferate and applications such as bitcoin grow in their computing needs.


Dated 18MAY18
https://www-zdnet-com.cdn.ampproject.org/v/s/www.zdnet.com/google-amp/article/ibm-warns-of-instant-breaking-of-encryption-by-quantum-computers-move-your-data-today/?amp_js_v=a1&amp_gsa=1#amp_tf=From%20%251%24s&ampshare=https%3A%2F%2Fwww.zdnet.com%2Farticle%2Fibm-warns-of-instant-breaking-of-encryption-by-quantum-computers-move-your-data-today%2F&ampshare=https%3A%2F%2Fwww.zdnet.com%2Farticle%2Fibm-warns-of-instant-breaking-of-encryption-by-quantum-computers-move-your-data-today%2F
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby texmex66 » Thu May 31, 2018

Quantum computing poses little real threat to Bitcoin.

https://www.newsbtc.com/2018/05/31/rese ... computing/

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Thu May 31, 2018

texmex66 wrote:Quantum computing poses little real threat to Bitcoin.

https://www.newsbtc.com/2018/05/31/rese ... computing/


Did you read the article or just the headline? Let's look at some clips from the author...

Although Brennan et al. don’t entirely refute this notion [that bitcoin would be rendered useless] in their lengthy paper, they do conclude that the threat is not nearly as fatalistic as many perceive it. In fact, given that quantum computing is still being developed, the authors believe that there is plenty of time to protect networks against it.


He then addresses the threat of quantum computer brute forcing signatures. He admits that this threat is ‘more real,’ but is ‘not without solutions.


In concluding his article, Brennan states that he believes the ‘quantum threat to Bitcoin is mostly a red-herring.’ He states that the strong incentive to constantly increase the network’s security, along with the collective minds working on it makes any issues entirely fixable.


My summary of the article from the author's own words: the brute forcing of signatures (private keys from a known public key) is a "real" threat, but down the road (perhaps 10 years), and because we know of it, we can build solutions in time to protect against it.

The author is right and wrong. First, his timeline is arbitrary. It could be a real threat in 3, 5, 10 or 25 years. We really don't know, because this is cutting edge technology - that the big tech companies, and governments are spending billions of dollars on. He is guessing like the rest of us. But his fatal flaw is discounting the lost bitcoin. I've seen estimates that between 1-4 million bitcoin is permanently "lost". That is until a quantum computer is created strong enough to be able to brute force a private key from unprotected accounts.

People freak out when the Mt Gox lawyer starts moving chunks of 10,000 BTC onto exchanges. What do you think will happen when a QC starts liquidating hundreds of thousands of bitcoin from these dead accounts? That is a risk that can't be fixed with a hard fork or upgrading wallets. Even if developers convince everyone to upgrade to quantum safe wallets, not everyone will because people are lazy, or they don't take the threat seriously, or they died without leaving someone their keys, etc etc. So while those active in bitcoin may be able to protect their own bitcoin, the safety of the rest of the network can't be guaranteed. If confidence is lost, only a quantum secure blockchain from GENESIS block by default will be able to maintain full network integrity without coin loss.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby texmex66 » Thu May 31, 2018

SilverDoge wrote: Did you read the article or just the headline?


Just the headline, figured you would decipher it for me. :)

QC could ruin everything digital i guess if BTC isn't immune. Guess ill have to stick with Silver and Gold.

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Fri Jun 01, 2018

texmex66 wrote:
SilverDoge wrote: Did you read the article or just the headline?


Just the headline, figured you would decipher it for me. :)

QC could ruin everything digital i guess if BTC isn't immune. Guess ill have to stick with Silver and Gold.


QC won't ruin everything. Other industries are highly incentivized to upgrade. But most of these industries are centralized institutions. Banks can upgrade their IT to be quantum resistant, as can security companies, etc. When you combine decentralization, with immutability though (like bitcoin) you can't force users to do things. Bitcoin upgrades all need to be backwards compatible or it creates a hard fork. To switch to a different signature scheme like XMSS (that QRL will use) would require a bitcoin hard fork and then you'd still have problems.

Industry is preparing, and so is QRL.
https://csrc.nist.gov/Projects/Post-Quantum-Cryptography/Round-1-Submissions
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Brick's » Fri Jun 01, 2018

Have turned over NIST link list (of who's who in QR cryptography and their algorithm submissions) to my cyber-sponge-brained son for his perusal. While several of the submissions were by the same individuals, the names listed on the first algorithm produced two video presentations and a book on detailed aspects of the subject.

Hope he finds it fun summer learning. TY for posting the link Doger.
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby Brick's » Mon Jun 04, 2018

Am I correct, I can add QRL to the list of Crypto not tradable on binance?
"You pompously call your selves Republicans and Democrats. There is no Republican Party. There is no Democratic Party. There are no Republicans or Democrats in this house. You are Lick-Spittlers and panderers, the creatures of the plutocracy".
- Jack London

"It is a government of corporations, by corporations, and for corporations."
- Rutherford B. Hayes, 19th President

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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Tue Jun 05, 2018

Brick's wrote:Am I correct, I can add QRL to the list of Crypto not tradable on binance?

Correct. Most of the volume is on Bittrex.

https://coinmarketcap.com/currencies/quantum-resistant-ledger/#markets
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Re: Alt-Coin Quantum Resistance Ledger (QRL)

Postby SilverDoge » Tue Jun 05, 2018

QRL team released an updated today. Hoping for a MainNet launch before the end of July perhaps based on the data contained within.

https://medium.com/the-quantum-resistant-ledger/pre-genesis-project-update-80c7dbe89ac0
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