699: The Quantum Computing Threat to Bitcoin and Blockchain Technology

Nov 24, 2018
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The Quantum Resistant Ledger (QRL) is cryptography with longevity, a postquantum secure blockchain featuring a stateful signature scheme and unparalleled security. Unlike other blockchains and cryptocurrencies, QRL utilizes a type of hash-based signature scheme known as the Extended Merkle signature scheme or XMSS. The QRL blockchain hosts its own native
cryptocurrency, $QRL.

For the past year, QRL has been developing their test network and has recently completed a security audit undertaken by cybersecurity company Red4Sec. With their newly launched network, the QRL blockchain will be powered by the quantum (plural quanta), as the base currency unit, with transaction fees paid and calculated through a fraction of the quantum called a Shor. It will retain the established currency code $QRL.

“At our core, we are a quantum-resistant blockchain; more secure and future-oriented than other blockchains out there today,” said Adam Koltun, Lead Business Strategist for The Quantum Resistant Ledger. “If a person or organization wants to build a secondary-layer application on top of a blockchain, then QRL’s rock-solid security and open source orientation makes us an ideal platform.”

Tech blog writer podcast qrl

I invited Adam Koltun onto my tech podcast to learn more from his expertise in the emerging field of blockchain, and how it relates to quantum computing. We discuss the basics of quantum computing (bits vs qubits etc.), the limitations of quantum computing, and how it intersects with blockchain technology. New security features to protect against Shor’s algorithm, using a novel signature scheme, as well as private keys and quantum resistant coins will all be explored in our chat.

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If you want to gather around a virtual campfire and have a chat or ask me a question, you can message me, leave a virtual voicemail or even buy your friendly podcast host a coffee.

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