Right now QRL is trading as an ERC20 token on the Ethereum blockchain while we develop the QRL blockchain. It will be exchanged at a ratio of 1:1 at mainnet. The process will be simple, easy, and articulated when it comes time.
Upon release of mainnet, the Quantum Resistant Ledger (QRL) will be 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 (vs 256 ECDSA) with a deferred Quantum Proof of Stake (QPoS) system for secure staking. Also included will be:
- A webwallet for a no-batteries-needed experience to use (just a browser like MEW)
- Desktop Apps (windows, mac, linux)
- gRPC with protobuf for a powerful API
- PQ Ephemeral messaging layer
A change from ECDSA-based addresses to quantum-safe addresses would be no small fork, and would potentially require disabling active addresses for a period of time while a fork was implemented, regardless of the specific cryptocurrency. This could have significant deleterious effects on a cryptocurrency-powered blockchain network, and, as we have experienced in creating our own blockchain, could also require the changing of significant sections of the cryptocurrency’s code to accommodate the new security features, drawing into question the feasibility of implementation.
Additionally, one cannot always (or, one could argue, ever) predict when and where technological innovation will rapidly progress. This is especially true of emergent technology, and both blockchain and Quantum Computers would qualify as such. There is potential for an unforeseen/unpublicized advance in Quantum Computing leading to an attack on a cryptocurrency network, and the market-wide realization of the sudden vulnerability of cryptocurrencies that are based on ECDSA encryption methods. This would likely cause a “run on the banks” scenario and crash the value of many-if-not-most cryptocurrencies that were secured by ECDSA.
You will need 3 things.
- QRL (1 or more)
- A working computer (something as powerful as a Raspberry Pi or greater)
- Working internet
We cannot directly estimate how much any given staking wallet would receive over any given amount of time. However, as we employ a directly-proportional model of staking rewards, we can say that you will be rewarded with approximately the same percentage of the incoming QRL as you own of the staking population for any given period of time.
For example (JUST AN EXAMPLE): If you stake 100 QRL, and there is 1,000 QRL total at stake across all staking wallets, then you own 10% of the funds at stake. For any given block during the period of time while you are staking, you will have a 10% chance to create the next valid block, and in turn gain the block reward.
We have a number of guides related to testnet features, and you are always welcome to come check out our #alpha-testers channel on our Discord or submit a bug report to our GitHub! Guide to get started with testnet: https://github.com/theQRL/QRL/#qrl-testnet-instructions-for-alpha-testers
- Web-wallet: https://wallet.qrlexplorer.info
- QRL Explorer: http://qrlexplorer.info/
- Testnet Faucet: http://qrl-faucet.folio.ninja/
NOTE: If one of the above links does not work it is because we have updated Testnet but not our FAQ page yet. The updated links and information will be present in #alpha-testers. Thank you for your patience.