This episode of LAB Radio was a part of our coverage of CryptoBlockcon where Chris Groshong interviewed Adam Koltun, Lead Business Strategist of Quantum Resistant Ledger (QRL).
As Adam so eloquently put it in their recap blog post, the conference itself was a cornucopia of very different industries squished together in an expansive venue:
“The event was held at the Mandalay Bay Resort and Casino. In addition to CBC, the MLB Winter Meetings, and a National Finals Rodeo competition was being held nearby, so many of the competitors were staying at Mandalay Bay. Certainly, literal cowboys, baseball executives and blockchain enthusiasts rubbing shoulders made for some interesting juxtapositions. As much as those of us within the industry can sometimes get weary of terms like “adoption” or “mainstream” or “awareness” — moments like these serve as an eloquent reminder, to me, that blockchain/cryptocurrency are still completely unknown to large swaths of American society, at least. It’s useful, I find, to sometimes recognize that for all the drama this space can sometimes produce, that in the long-run, these are minor speedbumps that will be hardly (if at all) remembered by the vast majority of crypto users within the next 10 years.”
As for what is a Quantum Resistant Ledger (QRL)? Their website elaborates:
“The Quantum Resistant Ledger (QRL) is a first of its kind, future-proof post quantum value store and decentralized communication layer which tackles the threat Quantum Computing will pose to cryptocurrencies.
This is backed by provably secure, peer-reviewed XMSS (instead of 256-bit ECDSA) with a proof-of-work(POW) algorithm, Cryptonight v7, which will later be hard forked to Proof of Stake.”
QRL aims to future proof the Blockchain from Quantum computing through peer-reviewed and proven precursors like Extended Merkle Signature Scheme (EMSS):
“QRL provides a blockchain that is resistant to both conventional and quantum computing attacks. The future of the internet will be built on decentralized protocols and abstraction layers, and we plan on being ready for that future, as well as any sudden quantum computing development (“Y2Q”) that may usher in that reality sooner than expected.
Our blockchain will utilize the previously vetted, provably secure Extended Merkle Signature Scheme (XMSS) to ensure that our network is resistant to quantum computing attacks. We aim to secure our network against not only the inevitability of quantum computing, and all that implies for the blockchain and cryptocurrency space, but also the potential for a black swan event to rapidly and irreversibly advance the technology with no immediate warning.
By utilizing an address format that allows us to change hash functions down the line if necessary, we have created a blockchain that is both secure today and adaptable tomorrow.”
Check out our sitdown as Chris Groshong ask Adam Koltun of QRL all about what it takes to make and be a Quantum Resistant Ledger:
Further Reading and Resources
Reflections on CBC 2018 by Adam Koltun
QRL Frequently Asked Questions (FAQ)
CryptoBlockCon Las Vegas 2018 Recap (CS Blog)