Quantum Resistant Ledger TV

Swiss Foundation still well funded with plenty of room way to go we will have a report coming out


Quantum Resistant Ledger TV

a little bit sluggish on that but we will have a report coming out which will detail the current


Quantum Resistant Ledger TV

financial standing and hammer it away it remains but you know it concerns on that the project has


Quantum Resistant Ledger TV

plenty of rules to go. So financial report at some point in the future.


Quantum Resistant Ledger TV

Plus senior we see yeah we see. Soon at some point in the future you mean better.


Quantum Resistant Ledger TV

All right so next question how long can qrled continue to develop with existing funds? Are there


Quantum Resistant Ledger TV

funds for marketing, exchange listing or maybe a market maker? Yeah so we currently are funded


Quantum Resistant Ledger TV

on our roadmap for several years and I think we have already announced we're looking for a


Quantum Resistant Ledger TV

member of the team to direct an marketing capacity exchange listing. Part of the reason why we


Quantum Resistant Ledger TV

careful with what we've put out there is an exchange listing is like it's negotiation and there's


Quantum Resistant Ledger TV

a significant cost attached to to every listing so yes we've funded for that we don't watch this


Quantum Resistant Ledger TV

space it will be a single switch in on standard. If you think your all needs to be on more


Quantum Resistant Ledger TV

exchanges what is the plan for listing qrled on more? Yeah so again great question but the more


Quantum Resistant Ledger TV

exchanges that project is listed on the more potentially good it is available in the wider the


Quantum Resistant Ledger TV

access to the project we are very aware of that as every blockchain project and spaces where that


Quantum Resistant Ledger TV

it's not as simple as you just knock on the door of an exchange and I have to be listed


Quantum Resistant Ledger TV

this process and you know I can't go into a detail with that hands and tongues are tied but


Quantum Resistant Ledger TV

there is a lot of things happening behind the scenes unfortunately I can't say any more than that.


Quantum Resistant Ledger TV

Next question I believe a large US exchange can bring awareness qrled especially once


Quantum Resistant Ledger TV

a proof of stake is added. What is the barrier to entry for exchanges? Integration difficulty


Quantum Resistant Ledger TV

costs so you touched a little bit on the costs and obviously there's some geo fencing around


Quantum Resistant Ledger TV

that occurred I think it was last year maybe you can help answer some of those questions.


Quantum Resistant Ledger TV

Yes I think this is a complex issue for many projects in the space. Question really is


Quantum Resistant Ledger TV

barriers to entry, civil factors at play, regulatory costs, integration difficulty.


Quantum Resistant Ledger TV

The only thing is there's almost an economic situation with exchange and a stigma. The size of your


Quantum Resistant Ledger TV

community will dictate to an exchange how much I've fundamentally linked to the


Quantum Resistant Ledger TV

ring to them. We're at all projects doing our best to build ourselves up,


Quantum Resistant Ledger TV

exchange to exchange, it's a process. Plus what is now all the things that we use to fairly


Quantum Resistant Ledger TV

with our contemporary hit them, not use in the project. Which is an added headache, got any


Quantum Resistant Ledger TV

exchange amongst the list of those things. There's no getting around that. We have had to build a lot


Quantum Resistant Ledger TV

of tools for the exchanges that have added us. There's many factors that I don't know


Quantum Resistant Ledger TV

into them in any way to tell them that way but there's a process that takes time.


Quantum Resistant Ledger TV

Yeah integration with exchanges I think is inherently difficult anyway with the


Quantum Resistant Ledger TV

collaboration that needs to take place and contracts and agreements and NDAs. I think that's


Quantum Resistant Ledger TV

inherently complex. I think there's even there's several different projects working on streamlining


Quantum Resistant Ledger TV

that adoption and that process to make things faster. But that is another that is likely another


Quantum Resistant Ledger TV

rabbit hole of a topic. The one thing that we have to prove to you is one we have in


Quantum Resistant Ledger TV

Cl


Quantum Resistant Ledger TV

globs that does is it brings a new pool of curl on Ethereum into play and we think that will be much


Quantum Resistant Ledger TV

much easier for technical perspective for exchanges to integrate. So that we're cautiously


Quantum Resistant Ledger TV

hopeful that will actually enable us to become a much easier value proposition for an exchange


Quantum Resistant Ledger TV

to bring. So I think again in Washi space thing revolving where confidence that more exchanges


Quantum Resistant Ledger TV

will have been missed in the future. Next question. Did you or the foundation get a legal opinion


Quantum Resistant Ledger TV

if curl can be considered a security and if not is one being prepared? It goes on a little bit


Quantum Resistant Ledger TV

about more exchanges. We need more exchanges situation. Yeah so obviously as every


Quantum Resistant Ledger TV

crew tape published in the space we have I think legal expenses and one of the expenses has been


Quantum Resistant Ledger TV

obtaining a legal opinion as a question stays. I don't want to talk specifically about


Quantum Resistant Ledger TV

any more exchange than we've missed at all because we have my conversations ongoing. Can't go


Quantum Resistant Ledger TV

into that. Can't delve into this. The answer is yes. Legal opinions have been obtained.


Quantum Resistant Ledger TV

I think that's fair. What do you think is the best way to secure, convert, not grade,


Quantum Resistant Ledger TV

precious and vulnerable bitcoins into quantum hacking resistant quantum resistant ledger


Quantum Resistant Ledger TV

and user is asking for the easiest answer leading straight forward to security and peace of


Quantum Resistant Ledger TV

mind. Yeah this is a question. Is the question asking how you move your bitcoins on


Quantum Resistant Ledger TV

the QIL? It was reading to me is what's the best way to secure and convert? Well I think


Quantum Resistant Ledger TV

secure is probably convert bitcoins into QRL. You can get an exchange and swap. Yeah one


Quantum Resistant Ledger TV

part of it. The only thing you agree with this is that obviously on Ethereum there are more


Quantum Resistant Ledger TV

wrapped BTC and then on the lightning network and so just those with any other token and clay should


Quantum Resistant Ledger TV

be able to lock and do your log BTC in that way. Dub, dub, dub, dub.duckql.org forward slash


Quantum Resistant Ledger TV

markets has a list of all the active exchanges. Yeah so there's that many supply of exchange on


Quantum Resistant Ledger TV

the now and that we will come in and teach you. Now you care about your team is so small


Quantum Resistant Ledger TV

relative to other projects in crypto yet has accomplished so much in the past two years. How has


Quantum Resistant Ledger TV

the team managed this with such comparatively few resources? It almost sounds complimentary, Peter.


Quantum Resistant Ledger TV

It's almost almost a question. I think the show answer of this is that you don't need to raise


Quantum Resistant Ledger TV

$2 billion like Telegram to make an crypto project. I mean the small team can build excellent


Quantum Resistant Ledger TV

products. You know this is and it's hard to make an open source development projects. You don't need


Quantum Resistant Ledger TV

the giant team of developers to make innovative and revolutionary projects. I mean it's a


Quantum Resistant Ledger TV

compact sort of a sort of a


Quantum Resistant Ledger TV

two guys in the garage can make a company that can change the world. I mean it does you don't need


Quantum Resistant Ledger TV

lots of people you just need to be dedicated and very skilled people. We're very fortunate in


Quantum Resistant Ledger TV

our project but excellent developers. We're leading crypto for your advice. I hope that answers it.


Quantum Resistant Ledger TV

I mean and even further than that say we're actually our funding is a drop in the issue


Quantum Resistant Ledger TV

compared to the many projects in the space but we have managed that well and we have plenty of


Quantum Resistant Ledger TV

run way less to run. I think that's a really good answer, Peter. While you're talking to what I'm


Quantum Resistant Ledger TV

thinking is we're in the process as you said of hiring a marketing person there hasn't been a


Quantum Resistant Ledger TV

tremendous amount of advocacy prior to this. I'd like to think that that's based on the fundamentals


Quantum Resistant Ledger TV

and people connecting the dots of the use case for the project itself and its purpose for


Quantum Resistant Ledger TV

existence. That's how I came to the project is I connected these dots and I was looking to see


Quantum Resistant Ledger TV

if you know I was looking at the time to see what existed there were not very many players at


Quantum Resistant Ledger TV

all. So I'd like to think the use case by itself is foundational to the reason for the success so far.


Quantum Resistant Ledger TV

Next question is asking about Adam. What happened to Adam as he was previously in charge of marketing?


Quantum Resistant Ledger TV

And why she had him as a business strategy wasn't strictly in charge of marketing for the


Quantum Resistant Ledger TV

work. Perhaps we've been guilty in our project of really focusing on the technical side of things


Quantum Resistant Ledger TV

and I think fairly confident that every member of the team would probably admit to that and we are


Quantum Resistant Ledger TV

excited by the tech and we're excited by the code and we're excited by the idea and we're


Quantum Resistant Ledger TV

excited about building it and perhaps not so excited about tuning our form. So you know as you said


Quantum Resistant Ledger TV

before we, Adam is meeting on to green and pastures and wishing well but we are looking for an in-house


Quantum Resistant Ledger TV

marketer so that research has begun and obviously we'll keep you updated as it's in-class.


Quantum Resistant Ledger TV

If someone listening and feels like they might be a good candidate for that role what should they do?


Quantum Resistant Ledger TV

Yes, if they should email in so that the QRL.org and we'll get back in touch.


Quantum Resistant Ledger TV

All right sounds good. How will you be dealing with potential claims for migrating


Quantum Resistant Ledger TV

un-migrated tokens the last info on it? Was that it'll be looked at by a case-by-case basis?


Quantum Resistant Ledger TV

Will this continue? Will there be any sharp cutoff after which no tokens can be migrated anymore?


Quantum Resistant Ledger TV

Is it legally possible to have a sharp cutoff? I know we've talked about this since within the


Quantum Resistant Ledger TV

team and a little bit even on this call so far but go ahead. Before we had a largely automated


Quantum Resistant Ledger TV

process in the nursing temperatures across but now we're down to the last less than 2% of


Quantum Resistant Ledger TV

the yet to migrate so it's becoming a very small number of QRL that migration across


Quantum Resistant Ledger TV

and we'll be we expect some of them ever migrate across and may have been lost previously.


Quantum Resistant Ledger TV

So as a project we will run to be years in the future so that that support structure will run


Quantum Resistant Ledger TV

and as people are still coming forward every now and again with an occasional migration


Quantum Resistant Ledger TV

and with late migration we'll continue to support that process. It really is a handful of people


Quantum Resistant Ledger TV

we see now so it says it's almost no issue now. The next question, assuming a situation that there's


Quantum Resistant Ledger TV

let's say 50 million free main net quanta with 15 million ICO tokens un-migrated and in a few


Quantum Resistant Ledger TV

years time someone who bought them in the ICO wants them migrated but no one is sure whether


Quantum Resistant Ledger TV

quantum computers are powerful enough to crack Ethereum and the QRL ICO tokens to be migrated


Quantum Resistant Ledger TV

have not yet been scrubbed from old burn addresses. I think that okay so that's a hypothetical scenario


Quantum Resistant Ledger TV

and I'm reading the question is is there a snapshot of all the Ethereum burn addresses so that


Quantum Resistant Ledger TV

there is a way of tracking migrated and un-migrated QRL ICO tokens and we'll be prepared for this


Quantum Resistant Ledger TV

potential future situation. That's the first question. Can I ask that? That was very way I think


Quantum Resistant Ledger TV

this is a pretty easy to answer any idea. Between one and two percent of QRL has not been


Quantum Resistant Ledger TV

migrated so in the 19th point something percent has been migrated already. So I think the question


Quantum Resistant Ledger TV

alluded to about 15 million not been regulated that we successfully around a million out of


Quantum Resistant Ledger TV

72 millionish that hasn't been migrated across. It's a tiny amount now so we're going to make


Quantum Resistant Ledger TV

a major issue. At that same we do still run some back end scripts which track the contract where


Quantum Resistant Ledger TV

we will continue to do so. So we're reading the thing is an issue at this stage. I would expect


Quantum Resistant Ledger TV

that by the end of the year everyone that's going to migrate to possible have probably migrated


Quantum Resistant Ledger TV

across. We all support that process and what was the project still running and there's a further


Quantum Resistant Ledger TV

sort of aspect of this question which was asking about perception of stability if we let a lot


Quantum Resistant Ledger TV

of tokens migrate across and the vast majority tokens already have migrated across. So yeah I


Quantum Resistant Ledger TV

don't think it's been an issue of denying migration or any legal sort of claims arising from that


Quantum Resistant Ledger TV

process. I don't think we need a hard cut off date to smoke the migration process and so few


Quantum Resistant Ledger TV

coins out on migration process now that I think it just if it's just as time runs on by the end of


Quantum Resistant Ledger TV

the year it's highly unlikely that anyone will not yet have migrated across you who's going to.


Quantum Resistant Ledger TV

Yeah so to bring some clarity to that I think sometime in 2019 I think that there was a hard


Quantum Resistant Ledger TV

cut off date that was published. I don't recall what it was. Would you say it's fair that moving forward


Quantum Resistant Ledger TV

migration of all the RSC20s pre-mainnet is best effort moving forward. We'll do the best that we can


Quantum Resistant Ledger TV

but we're I mean this two years in the mainnet some point it seems like it feels like a guarantee


Quantum Resistant Ledger TV

is it can't exist in the perpetuity. I agree but yeah let's say more than 98% of people with


Quantum Resistant Ledger TV

migration costs it is a tiny portion of coins that haven't moved across. It's a fairly simple process


Quantum Resistant Ledger TV

to migrate it just needs to generate a burn address so you know we are happy for that process.


Quantum Resistant Ledger TV

Anyone who's interacting with our team certainly via writing mail would be more


Quantum Resistant Ledger TV

would I be restricted to claim that people with that.


Quantum Resistant Ledger TV

Welcome everyone back to the official Quantum Resistance


Quantum Resistant Ledger TV

ledger channel your video portal into Pulse Quantum Digital Asset Security.


Quantum Resistant Ledger TV

So today we have a special episode with Kashal Kimar Singh he is our lead developer on the Quantum


Quantum Resistant Ledger TV

Resistance Ledger project. The topic today is going to be proof of stake the questions were submitted


Quantum Resistant Ledger TV

through Discord and we're going to answer them for you today. So I talked to Kashal a little bit


Quantum Resistant Ledger TV

before this interview so that I could understand a little bit more about his background.


Quantum Resistant Ledger TV

In the year 2015 Kashal became fascinated with the idea of blockchain and cryptocurrencies in general


Quantum Resistant Ledger TV

and shortly after that he moved full-time professionally into this space. Since then he works to


Quantum Resistant Ledger TV

innovate blockchain technology him also believes that blockchain has a lot of potential


Quantum Resistant Ledger TV

to disrupt different sectors and bring transparency and security to different platforms and


Quantum Resistant Ledger TV

different industries. Kashal holds a Bachelor of Technology and Computer Science


Quantum Resistant Ledger TV

and Engineering and an MBA in Finance from KIT University. So as I mentioned this video is going


Quantum Resistant Ledger TV

to be about proof of stake and we're going to answer your questions so let's jump on the phone


Quantum Resistant Ledger TV

and let's get started.


Quantum Resistant Ledger TV

Welcome back everyone this is Michael Straycke and on the phone I have Kashal Singh lead


Quantum Resistant Ledger TV

developer at the Quantum Resistance Ledger project. Kashal can you hear me?


Quantum Resistant Ledger TV

Yeah I can. Excellent how are you doing today?


Quantum Resistant Ledger TV

I have to agree thank you for you. Very good. So as you know as I think you're aware we have


Quantum Resistant Ledger TV

some questions from our community specifically regarding proof of stake. For any newcomers


Quantum Resistant Ledger TV

proof of stake is on our roadmap to migrate away from proof of work.


Quantum Resistant Ledger TV

So the consensus algorithm that QRL to point all would be going towards.


Quantum Resistant Ledger TV

So I've collected some questions here we're going to run through them.


Quantum Resistant Ledger TV

Hopefully have a little bit of fun along the way. Is that sound good Kashal?


Quantum Resistant Ledger TV

Yeah that's very exciting. Awesome. So the first question we have is if proof of stake in


Quantum Resistant Ledger TV

onclave will be released before smart contracts. Will the atomic swap feature


Quantum Resistant Ledger TV

if QRL be included in onclave or will we be waiting for smart contracts to be able to swap?


Quantum Resistant Ledger TV

So the smart contracts are going to be really interesting right? That's what


Quantum Resistant Ledger TV

put a theorem on the map. All intelligent blockchains are moving to smart contracts.


Quantum Resistant Ledger TV

There's additional things that are being put in in the block space like parachaining and


Quantum Resistant Ledger TV

increasing interoperability with smart contracts. But from from what I can see it doesn't look


Quantum Resistant Ledger TV

like smart contracts are being obsolete by any other technology. So I think that this makes


Quantum Resistant Ledger TV

a really good move for the project. Does that sound about right to you Kashal? Yeah yeah that's


Quantum Resistant Ledger TV

actually a different. Excellent. Next question. Airy-Paul posted a critique of proof of stake on


Quantum Resistant Ledger TV

Twitter a few weeks ago that I'd like to get your thoughts on. And he's wondering if this is going


Quantum Resistant Ledger TV

to be a long-term issue or a problem for QRL. So the first one is this is Airy-Paul. Looks like it's


Quantum Resistant Ledger TV

a Twitter post. In my opinion a huge part of the system being sustainably decentralized is that


Quantum Resistant Ledger TV

it must be nearly impossible for our cartel to punish defectors. OPEC can function as an oil


Quantum Resistant Ledger TV

cartel limiting production only if they can detect and punish on members excess production.


Quantum Resistant Ledger TV

So a proof of work requires the ability to mine pseudo-anonymously without that you'd likely get


Quantum Resistant Ledger TV

binding cartels that fully centralized control. Currently cartels conform but they can't know if a


Quantum Resistant Ledger TV

member is secretly mining outside of the cartel. In proof of stake of a majority of


Quantum Resistant Ledger TV

stake empowers health entities that can identify one another and if they can spot defection


Quantum Resistant Ledger TV

they're probably incentivized to form a cartel include. It's kind of weird but decentralization


Quantum Resistant Ledger TV

requires that defectors can get away with defection. I mean you know the last statements


Quantum Resistant Ledger TV

kind of interesting and certainly true. I mean also to an anonymity and decentralization


Quantum Resistant Ledger TV

enabling the dark side and the light side if you will. But go ahead Michelle. Yeah so


Quantum Resistant Ledger TV

I agree with the points to some extent but such as proof of work allows you to mine pseudo-anonymously


Quantum Resistant Ledger TV

and you can easily change your binding hardware to mine outside the cartel by pointing your


Quantum Resistant Ledger TV

hardware to a different pool and using a new mining artist. So basically a new mining


Quantum Resistant Ledger TV

address makes it harder for the cartel to identify your new identity over the network. So yeah I


Quantum Resistant Ledger TV

beg it to some extent but in proof of stake if you are stationed let's say if you are a part of


Quantum Resistant Ledger TV

some group of cartel who act together. In case you would like to leave the group and you would


Quantum Resistant Ledger TV

like to have a new identity you need to move your funds from one address to another which means


Quantum Resistant Ledger TV

you can still be traced by the cartel. Though that doesn't mean there are no ways to set up


Quantum Resistant Ledger TV

a new identity the process could be complex in case of proof of stake compared to


Quantum Resistant Ledger TV

proof of work but it is still possible. You just need to use an exchange and you can establish


Quantum Resistant Ledger TV

a new identity such that you cannot be detected by the cartel. And with the coins having


Quantum Resistant Ledger TV

algorithms which allows anonymous transaction in such a case you even don't need an exchange you


Quantum Resistant Ledger TV

can simply move your funds that you are using to stake in proof of stake from one address to


Quantum Resistant Ledger TV

another address and basically no one will be able to identify who receive this amount of


Quantum Resistant Ledger TV

stake in. So in coins having such kinds of algorithms which allows anonymous transaction it will


Quantum Resistant Ledger TV

be much more easier to move funds and to establish a new identity but yeah in the coins like you


Quantum Resistant Ledger TV

are you can still use exchanges to establish a new identity but it will be little bit more complicated


Quantum Resistant Ledger TV

compared to proof of stake. I was thinking about this question as I was reading it as you were talking


Quantum Resistant Ledger TV

and so in proof of work consensus mechanisms right you have the infamous 51% civil attack right


Quantum Resistant Ledger TV

and you know if if you want percent you can maliciously bend some blocks to your will


Quantum Resistant Ledger TV

but proof of stake you know being fundamentally different I don't know I don't know what the difference


Quantum Resistant Ledger TV

is between if you have a collusion on chain with the same wallet or if you have a collusion off


Quantum Resistant Ledger TV

chain because with proof of stake your you know the return is just the stake them out that you get


Quantum Resistant Ledger TV

and you could collude on the backside but it's not like the more you stake it's a progressive the


Quantum Resistant Ledger TV

higher percentage you stake the higher the higher you know the higher you get and with a 51%


Quantum Resistant Ledger TV

if you once you get along that 51% magic number you know that enables you to perform the civil attack


Quantum Resistant Ledger TV

but with proof of stake if you get about 51% okay you what you have 51% of voting if your the chain


Quantum Resistant Ledger TV

does on chain voting but let's just say you could you could just collude off chain you know it


Quantum Resistant Ledger TV

doesn't have to be on chain so it's a good question but and I haven't thought about it fully through


Quantum Resistant Ledger TV

but I'm not sure that there's a big difference there that it matters because you could just


Quantum Resistant Ledger TV

from what I could from what I understand I think you could just do anything off chain and just


Quantum Resistant Ledger TV

coordinate rather than having to do it on chain what do you think any thoughts on that or


Quantum Resistant Ledger TV

yeah I mean you can coordinate together to to have to misbehave on the network so it could be like


Quantum Resistant Ledger TV

a group of people who have like to own that 51% stake on the proof of stake may decide to


Quantum Resistant Ledger TV

ignore any blocks coming from a specific staking address and what they can do is like simply


Quantum Resistant Ledger TV

ignore that block and simply build a new block on another box so if they try to do that in that case


Quantum Resistant Ledger TV

a specific staking address will always be ignored and he will not be able to get any staking reward


Quantum Resistant Ledger TV

it's just because those 51% cartel is simply ignoring all the blocks coming from them so


Quantum Resistant Ledger TV

these kinds of attack possible on proof of stake and this in such a case the thing is the cartel


Quantum Resistant Ledger TV

is harming itself harming the network and so this orange behavior of the cartel may result into the


Quantum Resistant Ledger TV

drop in the price of the coin itself which means like the state value of the cartel has been


Quantum Resistant Ledger TV

reduced so but yeah the attack is possible even if the cartel knows that whatever he's doing is going


Quantum Resistant Ledger TV

to harm himself the cartel can still make an attack for certain period of timeline yeah definitely


Quantum Resistant Ledger TV

that's a second good point too it's you know like having a savings account if you can be a bad


Quantum Resistant Ledger TV

actor and add money you know through malicious ways into your savings account while simultaneously


Quantum Resistant Ledger TV

but at the same time it's going to crash the value of the dollar you know and because of


Quantum Resistant Ledger TV

how you know how well till we solve it that blockchain ecosystem is is that really worth it


Quantum Resistant Ledger TV

I don't know if I had a big stick honestly if I had a big stake and I had if you know if I had


Quantum Resistant Ledger TV

50% of something you know gain theory my my perception of gain theory would be that I'm going to


Quantum Resistant Ledger TV

do whatever it takes to maintain the trust of the community to make to incentivize others and


Quantum Resistant Ledger TV

myself around me to make sure that that everything is being operated you know everything is done valid


Quantum Resistant Ledger TV

so that's my take on it but proof of stakes real you know still relatively new tech I think


Quantum Resistant Ledger TV

the community the blockchain community is all still probably asking things to learn and figure out


Quantum Resistant Ledger TV

good question though yeah that's true next question as the team decided to go 100% proof of stake


Quantum Resistant Ledger TV

and have has QRL ruled out a hybrid I'm assuming that means proof of stake proof of work hybrid


Quantum Resistant Ledger TV

well yes for now we have decided to go with 100% proof of stake we are not considering to


Quantum Resistant Ledger TV

have any hybrid solutions such as proof of stake and proof of work the limit on which we are


Quantum Resistant Ledger TV

working is completely based on the proof of stake so yeah I don't know if I've there's probably


Quantum Resistant Ledger TV

some chains out there that do hybrid I don't know if I've heard of any I have it look at it


Quantum Resistant Ledger TV

have them yeah the time to look any up either I have seen like coin and take it as


Quantum Resistant Ledger TV

try has made it like proof of stake was proof of work so it's kind of thing like


Quantum Resistant Ledger TV

with proof of stake you are having some advantage but if there is some kind of disadvantage in


Quantum Resistant Ledger TV

proof of stake you can set up that with having a hybrid version so next question will there be


Quantum Resistant Ledger TV

the use of master nodes on the QRL network with the move from proof of work to proof of stake


Quantum Resistant Ledger TV

we try our best to avoid any kind of centralization so the master nodes will result into some sort


Quantum Resistant Ledger TV

of centralization and this is why there will be no master nodes while we will be migrating from


Quantum Resistant Ledger TV

proof of work to proof of stake sounds good next question with the switch to proof of stake


Quantum Resistant Ledger TV

will there be a seaside algorithm implemented to handle the payout of stake to quantum or how will


Quantum Resistant Ledger TV

that be handled kindly we have not decided how the remarks will be distributed among the block


Quantum Resistant Ledger TV

proposal and retestives in the debit version we have a fixed amount of reward so basically both the


Quantum Resistant Ledger TV

block the pose it and retestives will get the same amount of reward the discussion on the block


Quantum Resistant Ledger TV

reward will happen once we are good with the dynamic performance so you have to wait to get


Quantum Resistant Ledger TV

the exact answer like what will be the algorithm that we will be using to to handle the payout for


Quantum Resistant Ledger TV

the stake quadrant sounds good thank you next question how would multi-sig addresses stake


Quantum Resistant Ledger TV

do all participants have to agree on the stake or just one how would that even work


Quantum Resistant Ledger TV

for now we are not allowing the multi-sig addresses to be involved in stake so you can use only


Quantum Resistant Ledger TV

the diluteing public keys for staking given that dilate in public keys has already been associated


Quantum Resistant Ledger TV

with your SMSs address in order to associate the dilating public keys you need to make a stake


Quantum Resistant Ledger TV

transaction on qn blockchain but yeah multi-sig address is not going to stake on the upcoming


Quantum Resistant Ledger TV

viewers at least for now it is and decided whether we are going to support multi-sig address on the


Quantum Resistant Ledger TV

property so you need to wait for that maybe we can have a more clear answer after the test


Quantum Resistant Ledger TV

so I think the other half of that question would the same thing would be true for


Quantum Resistant Ledger TV

theory no I think in the theorem I did check like for the in order to stake you just need to make


Quantum Resistant Ledger TV

a transaction on on this smart contract I need to lock your phone so based on what I have seen


Quantum Resistant Ledger TV

a couple of months before I think it is possible to use multi-sig addresses on the theorem to


Quantum Resistant Ledger TV

to stake on a 2.0 I need to try that on with you have 2.0 test that before I can say exactly anything


Quantum Resistant Ledger TV

but what I remember if that it is possible to stake using the multi-sig address on the


Quantum Resistant Ledger TV

theorem that way awesome thank you thank you Michelle all right next question regarding the


Quantum Resistant Ledger TV

raspberry pi is raspberry pi suitable as a proof of stake node and is any special hardware required


Quantum Resistant Ledger TV

I think that there's definitely distinction between how proof of work and proof of stake work as


Quantum Resistant Ledger TV

far as the instruction sets I know you know the answer to that so I'm going to let you run with it


Quantum Resistant Ledger TV

okay so I remember in the year 2017 raspberry PI was able to stake on a QR test net


Quantum Resistant Ledger TV

uh those days the project was limited to xms script photography and proof of stake but


Quantum Resistant Ledger TV

later we added some other cryptography libraries such as diluteium cibre and move to proof of work


Quantum Resistant Ledger TV

such as script tonight and quantum ads many of these libraries requires the AES and I support


Quantum Resistant Ledger TV

and that's the only thing that is stopping the raspberry PI from staking for TOS we are looking


Quantum Resistant Ledger TV

into possible options and it will be great if we can make it possible for us we try to run a


Quantum Resistant Ledger TV

QR TOS node but we have to try this maybe on the test net this is not our priority right now


Quantum Resistant Ledger TV

so we have to wait for the test net and then we can see what we can do to make it


Quantum Resistant Ledger TV

a little bit the raspberry PI you know I verified this out as well too without many very special


Quantum Resistant Ledger TV

software emulation modification you just you won't be able to run that run a node without that


Quantum Resistant Ledger TV

AES and I and for those that aren't familiar that's it is an instructional at the processor level


Quantum Resistant Ledger TV

it's an instruction set that kryptonite requires in order to do a advanced encryption


Quantum Resistant Ledger TV

I mean there is still possibility you can similar to this AES and I support by having some


Quantum Resistant Ledger TV

software support I remember there was there was a way to implement the ESE and I


Quantum Resistant Ledger TV

in software mode so might be possible not a priority yeah good question it is possible but


Quantum Resistant Ledger TV

it's not applied it they like now so how's good thank you next question are you considering to


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use a quantum secure external randomness beacon like the one from League of entropy to construct


Quantum Resistant Ledger TV

the robust quantum resistance of proof of stake if so is this not a possible single external


Quantum Resistant Ledger TV

point of failure our other non external options of true randomness validation how are you


Quantum Resistant Ledger TV

solving this problem so this this gets down to consensus on a source of entropy within a distributed


Quantum Resistant Ledger TV

you know within a distributed model which which is obviously a challenge no matter how you look at


Quantum Resistant Ledger TV

and then all that there's different ways to do then we've talked about this on the team but


Quantum Resistant Ledger TV

go ahead what is what are your what are your thoughts on that yeah so randomness is still a big


Quantum Resistant Ledger TV

challenge League of entropy is a good project they have taken and shared to build decentralized


Quantum Resistant Ledger TV

random beacon but when it comes to use something outside the QR blockchain itself there comes some


Quantum Resistant Ledger TV

risks such as single point of failure or some kind of hard work on the source generating


Quantum Resistant Ledger TV

randomness at this stage it will be very early to say anything about using an external source


Quantum Resistant Ledger TV

of randomness so for now I can only say we are looking to use some hashing functions such as


Quantum Resistant Ledger TV

random x to hash some data from the blockchain itself for thousands or maybe millions of times


Quantum Resistant Ledger TV

and the output of that hash will be used as an entropy this hashing is expected to happen once


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every part this is what we are going to do on the web so that's what our plan for the external


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randomness sorry that's what our plan for the randomness and maybe it could change


Quantum Resistant Ledger TV

or why we will be working on the test net it is not yet finalized but for now there is no


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black to use any of which does that like a miss you can randomness by itself is actually very interesting


Quantum Resistant Ledger TV

because it seems like something that's relatively benign but in blockchain right technology


Quantum Resistant Ledger TV

I mean if you can control randomness you could theoretically control the next block


Quantum Resistant Ledger TV

proposal manipulate the blockchain if it becomes how do you get real true random numbers


Quantum Resistant Ledger TV

or as close as possible to real randomness and then once you achieve that how do you get everyone


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to agree and know about it so as not to slow down transactions or the blockchain itself definitely


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it's something that's I know that that's still evolving too as far as blockchain is concerned


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so yeah that's on accurate kashaul yeah that's totally accurate so even this randomness thing is


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is a very small thing but it's itself a very critical and a big challenge for the blockchain industry


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definitely last question will the foundation be staking its quanah and if so do you know what percentage


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of the foundations quanah would be staked yeah foundation will be staking its pointer


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I'm not sure what the exact numbers like how many quanah will the foundation keep in reserve though


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I can say for now foundation may stake more than 70% of the quanah although you will have the exact


Quantum Resistant Ledger TV

numbers before the people stake how it's not so you need to wait for that time so it sounds like


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those numbers will be published you know there's and I thought about that one a little bit there's


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a balance to on one hand one hand you're giving return back to our wonderful community you know


Quantum Resistant Ledger TV

for being involved in the project and for and for staking their quanah and being supporting it


Quantum Resistant Ledger TV

you're able you know on your balancing that with staked quanah that the foundation uses which


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can be used funding for the project which can include you know running the project longer future


Quantum Resistant Ledger TV

and has been stuff like that so there's a balance there I don't know exactly what the best answer


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for that would be but sounds like well something would be decided and would be published in


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transparent so big here right there is transparency right you know things aren't things aren't being


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done in a vacuum the open source the transparency everything still being within the within the


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spirit of blockchain technology yeah that's true it will be transparent but the numbers will be


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yeah it will be definitely shared before the hard part so everyone will know how much quite the


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foundation will be using to stake under the paper statement and I think that's fair too because it


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will allow other people to calculate their returns outside of any foundation staked quanah


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that would be persistent so that makes sense yeah and that's our interview with kashal for the


Quantum Resistant Ledger TV

AMA on a proof of stake I want to thank kashal for your time and answering the community's


Quantum Resistant Ledger TV

questions and I also want to thank the community for submitting your questions and I hope this


Quantum Resistant Ledger TV

this answers or fills in some of the blanks regarding proof of stake without you guys we


Quantum Resistant Ledger TV

wouldn't be able to be here we wouldn't be able to do what we do so thank you for your support


Quantum Resistant Ledger TV

if you did like this video be sure to smash that like button so you can get updates on future


Quantum Resistant Ledger TV

videos regarding blockchain technology and its collision with quantum computers until next time


Quantum Resistant Ledger TV

thank you and talk to you later welcome back everyone do the official quantum resistance


Quantum Resistant Ledger TV

ledger channel your video portal into post quantum digital asset security for this video we're


Quantum Resistant Ledger TV

going to do a walk through of our mobile wallet this is going to be the QRL wallet that can be


Quantum Resistant Ledger TV

downloaded either from google play or from the apple store in this case I'm going to do the demo


Quantum Resistant Ledger TV

from the apple iPhone because that's the phone that I have we're going to go through creating a


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wallet backing up a wallet sending some funds just kind of some basic walk through information


Quantum Resistant Ledger TV

and without further ado let's get going


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okay so here we have the quantum resistance ledger mobile wallet and this is the opening splash


Quantum Resistant Ledger TV

screen you have a few different options here you can do create a wallet create a advanced wallet


Quantum Resistant Ledger TV

or open an existing wallet so let me describe the differences here if you do create default


Quantum Resistant Ledger TV

wallet that's just going to be giving you the default settings for a basic wallet I would say


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this would work for probably 90% of people for those of you that are a little more advanced


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and want to bind to in the XMSS Merkel tree just a little bit more you can actually select a


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tree height with this advanced option and what that gets down to is a number of one-time signatures


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that you can use essentially how many times you can send a transaction from the wallet now if you're


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not familiar with one-time signatures and Merkel trees we cover some of that in previous videos


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that'll be a little bit more apparent this is one of the costs of doing a something post quantum


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secure in that there's some trade-offs with how usable something is in order to make it


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provably quantum secure so for 90% of people I would just select that create default wallet


Quantum Resistant Ledger TV

if you want to open an existing wallet you can open it up here with a mononic phrase


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or a hexade value now here's the interesting thing when you create a wallet either on here


Quantum Resistant Ledger TV

or on the website your wallet is actually tied to the mnemonic phrase and through a mathematical


Quantum Resistant Ledger TV

function in other words I can create a wallet here on the mobile app and get the password phrase


Quantum Resistant Ledger TV

for it and then I can take that same password phrase and I can use it to open up the wallet on the


Quantum Resistant Ledger TV

curl website through the web wallet well same thing applies with the hexade the mnemonic phrase


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and the hexade are mathematical representations of the wallet so that's a really important takeaway


Quantum Resistant Ledger TV

as long as you have the mnemonic phrase or hexade value you can restore your curl funds from any


Quantum Resistant Ledger TV

wallet anywhere this is the same type of concept that applies to the hardware ledger wallet whereas


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the passwords or the pins none of that is really important because all of that usually applies


Quantum Resistant Ledger TV

to just that installed instance of the wallet what really matters is that mnemonic phrase or that


Quantum Resistant Ledger TV

hexade value okay so let's do this first step let's say you have an existing wallet that you


Quantum Resistant Ledger TV

already created and you want to import it into your mobile wallet so I happen to have a wallet here


Quantum Resistant Ledger TV

now I do not recommend that you store your wallet in no pad ideally you would want to use


Quantum Resistant Ledger TV

some sort of encrypted encrypted hardware device like a ledger or something like that that would


Quantum Resistant Ledger TV

generate your wallet for you or there's also hardware wallets that are literally made out of steel


Quantum Resistant Ledger TV

there's lots of secure ways to do this never send your phrase like this clear text in an email


Quantum Resistant Ledger TV

or store it like you're seeing here we're just doing this for a demo so if you look here okay so


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here is the mnemonic phrase and we're going to go into the curl wallet and as I said I created that


Quantum Resistant Ledger TV

wallet on the website and we're going to open it with the mnemonic phrase I'm just going to


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paste that phrase into here and let's create a pin 885 585 5 and it's important to realize that this


Quantum Resistant Ledger TV

pin is specific just to this wallet's installation it doesn't tie the pin to the actual funds or


Quantum Resistant Ledger TV

the wallet itself it's just for this program that's executing right now and we'll give this a name


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click return and we'll open the wallet so we'll give this a moment


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okay so as you can see I've imported the wallet from a website from the curl website


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this should give you a good idea in that the mnemonic phrase is actually the wallet mathematically


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hey thanks for watching hopefully that was helpful as far as a feature walkthrough for the curl


Quantum Resistant Ledger TV

mobile wallet if you liked what you saw go ahead and smash that like button and subscribe to our


Quantum Resistant Ledger TV

channel you're also free to visit us at dub dub dub dub dot ql dot org or visit our vibrant discord


Quantum Resistant Ledger TV

channel and all the social media links can be found on the website until then see you in the next video


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we'll quantum cuters break bitcoin we live in a world of certain uncertainty and quantum


Quantum Resistant Ledger TV

probability whether or not you're dealt a 15 or a 20 at the blackjack table or which direction


Quantum Resistant Ledger TV

the stock market goals may very well be determined intrinsically at the quantum level


Quantum Resistant Ledger TV

even after centuries of advancement we still struggle with calculating uncertainties and


Quantum Resistant Ledger TV

probability accurately which is sometimes why we make bad decisions and accidents still happen


Quantum Resistant Ledger TV

but what if we've been approaching this problem of uncertainty the wrong way what if there was a way


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to use the quantum world where things can exist and not exist at the same time parallel worlds


Quantum Resistant Ledger TV

become possible and particles at great distances can affect each other instantaneously irrespective


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of distance could we use uncertainty at the quantum level to transform our computational and


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analytical methods to usher in the next great technological revolution is there a chance for quantum


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computers to redefine how humanity solves its problems with this create some more problems in


Quantum Resistant Ledger TV

its solves stay tuned we'll rediscover the topics of what a quantum computer is and what its


Quantum Resistant Ledger TV

implications might be the mankind cryptography and of course bitcoin


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hi i'm mike from the quantum resistant ledger where we designed the only purpose built open


Quantum Resistant Ledger TV

source blockchain and cryptocurrency that's n is t draft recommended and quantum resistant


Quantum Resistant Ledger TV

today we're gonna dive deep deep into the world of quantum computers so prepared to have mine


Quantum Resistant Ledger TV

equals blown look at the index below to jump to specific topics or just skip to the end for


Quantum Resistant Ledger TV

quantum computers explained to grandma in bullet points below wow while this video is about


Quantum Resistant Ledger TV

quantum computers some quick history will help with context man has tried for centuries to


Quantum Resistant Ledger TV

understand the world in which we live from looking up and writing stories about the pictures that


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they saw in the stars to harnessing the atom for nuclear energy quantum computers like mother nature


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may very well be the next technological revolution powered by the fundamental properties of mother nature


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abstractly the idea of quantum computers existed for decades since Alan Turing started exploring


Quantum Resistant Ledger TV

the question of whether or not machines can think when the touring machine was first proposed in 1936


Quantum Resistant Ledger TV

so fast forward through classical computers to the 1980s when a quantum mechanical touring machine


Quantum Resistant Ledger TV

which is a primitive computer was first proposed by Paul Bignoff in the 1980s discussion at this time


Quantum Resistant Ledger TV

existed around how mother nature could be used to solve mankind's problems but no one really


Quantum Resistant Ledger TV

knew if a quantum computer could work until 1998 when the first primitive quantum computer


Quantum Resistant Ledger TV

performed its first calculation growing up i was taught in school how the nucleus lies at the


Quantum Resistant Ledger TV

center of the atom and an electron revolves around the nucleus at specific energy levels which


Quantum Resistant Ledger TV

of course gave us great insight and the show quantum leap however we no longer think of electrons in


Quantum Resistant Ledger TV

this way like light electrons behave as if they are both a particle and a wave now this is a very


Quantum Resistant Ledger TV

strange to think of for example if we were to equate a particle to that of a baseball the analogy is


Quantum Resistant Ledger TV

easy to understand but how can a particle behave like a wave when we were into a wave we're


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actually talking about a wave function which is a mathematical representation of probability


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not a physical wave like you'd see at the beach even though that it does share some of the same


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characteristics if you're able to touch it the object would instantly turn into a particle at the


Quantum Resistant Ledger TV

moment you measured it saw it touched it whatever recently experiments have shown that this state


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of superposition can apply to entire atoms as well raising very interesting questions as to


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what is real and what is not it was likely the inspiration for the phrase of a branch falls on the


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forest doesn't make a sound scientists are still trying to get to the root of exactly what reality


Quantum Resistant Ledger TV

is which is where the quantum world of mathematical probability ends and the macroscopic world that


Quantum Resistant Ledger TV

we see in touch starts the point is uncertainty is a fundamental part of what makes a pause and


Quantum Resistant Ledger TV

our lives and turn the quantum computer so what is so interesting about quantum computing


Quantum Resistant Ledger TV

quantum computers work in terms of probability this means that it gives probabilistic answers


Quantum Resistant Ledger TV

and computer class you might have learned about binary code using bits to use is either a zero or


Quantum Resistant Ledger TV

one in order to process information however a quantum computer uses a probabilistic approach


Quantum Resistant Ledger TV

by using qubits which can have for example all combinations of zero zero zero zero one one zero


Quantum Resistant Ledger TV

and one one all at the same time from another angle let's use an example i know that at nine


Quantum Resistant Ledger TV

o'clock in the morning you can be there at home or at work there can be a dozen other possibilities


Quantum Resistant Ledger TV

their chance to be true is less likely unless i give you a call or visit you at your place or


Quantum Resistant Ledger TV

office i cannot know which location you're at for me you are in a state of superposition or probability


Quantum Resistant Ledger TV

this is what makes quantum computers so powerful as their exponential or sometimes


Quantum Resistant Ledger TV

virtue is even doubly exponential nature each qubit doubles its relative computing power relative


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the classical computing 8 bits equals 1 byte but in quantum computing 8 bits equals 64 bytes


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with many high-quality qubits the right environmental conditions and an algorithm we can perform


Quantum Resistant Ledger TV

calculations faster than any modern classical supercomputer it can be a little unsettling to think


Quantum Resistant Ledger TV

about the world around this existing in a state of probability with no materialistic properties


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until it's observed in the case of quantum entanglement we have two particles born of the same


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event once observed it instantly heralds its twin into existence no matter how much distance


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is separated between the two despite being counterintuitive to how we observe reality experiment


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after experiment has shown this to be true fast forward to 2020 big data is gold and


Quantum Resistant Ledger TV

he who controls it is king across sectors biology technology social networking pharmaceuticals


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financial it's apparent that there are incredible opportunities available to those who can build


Quantum Resistant Ledger TV

and successfully deploy systems to calculate data not only do we need things to be processed faster


Quantum Resistant Ledger TV

we need them to be able to store more information this is where quantum computing shows a great


Quantum Resistant Ledger TV

promising future and exactly what all the hype is about okay see might be asking if these machines


Quantum Resistant Ledger TV

are so amazing why haven't we shifted to them already quantum computing is a relatively new field


Quantum Resistant Ledger TV

still in its infancy the technology bears no resemblance and function or appearance to a computer


Quantum Resistant Ledger TV

you have used before it doesn't use transistors or logic aids like your smartphone or your PC


Quantum Resistant Ledger TV

like one would expect quantum computers are analog in nature so the output of them is probabilistic


Quantum Resistant Ledger TV

now that we've already begun talking about the challenges and complexities in quantum


Quantum Resistant Ledger TV

computing let's talk about what a kawana computer is most mainstream designs around quantum


Quantum Resistant Ledger TV

computers have a few requirements first off number one it needs qubits the quantum equivalent of a


Quantum Resistant Ledger TV

bit that can be put in a superposition these can be anything from matter and ions to even


Quantum Resistant Ledger TV

potentially full tons of light the qubits need to be able to interact with each other that's number


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two number three qubits need to be able to hold information in this information must be able to


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be retrieved number four the qubits need to be stable long enough to perform some sort of calculation


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and number five in most cases all of this must be done near absolute zero within special


Quantum Resistant Ledger TV

refrigerators called dilution refrigerators these refrigerators are capable of producing the


Quantum Resistant Ledger TV

coldest temperatures in the known universe which has been one of the greatest thermodynamic challenges


Quantum Resistant Ledger TV

during construction of these machines there's also a type of quantum computer that uses full


Quantum Resistant Ledger TV

tons of qubits that started to grow and show progress over the past three years that can be operated


Quantum Resistant Ledger TV

at room temperature which is really exciting the ability to perform calculation simultaneously at


Quantum Resistant Ledger TV

each qubit is both at super power and Achilles heel on one hand qubits are very powerful


Quantum Resistant Ledger TV

but on the other hand they're very sensitive to any type of electromagnetic disturbance or any


Quantum Resistant Ledger TV

other type of disturbance however despite all the challenges and complexities the possibility of


Quantum Resistant Ledger TV

quantum computers being able to process and make sense of big data in the future would be game


Quantum Resistant Ledger TV

changing and are simply too massive or lucrative to ignore with the recent wave of AI blockchain


Quantum Resistant Ledger TV

and other innovations big data has become more important every passing year all artificial algorithms


Quantum Resistant Ledger TV

rely on the data for which they are input and the greater the data the greater the accuracy of the


Quantum Resistant Ledger TV

AI however the greater of the data the more difficult it is to compute and standard CPUs and


Quantum Resistant Ledger TV

GPUs just simply don't have the processing power to do this we would have to extract data in


Quantum Resistant Ledger TV

batches and then train the aim model to distribute the load and this can be so as time consuming


Quantum Resistant Ledger TV

that it just becomes not worth it but what if we don't have to wait for days to train a model what


Quantum Resistant Ledger TV

if our AI models can be trained in a matter of hours or minutes quantum computers have the potential


Quantum Resistant Ledger TV

to work together harmoniously with classical computers to solve new types of problems so what


Quantum Resistant Ledger TV

does this mean for cryptography encryption crypto currencies where do quantum computers come in this


Quantum Resistant Ledger TV

will all be covered in a later chapter but if you're always the one to read it had in class this


Quantum Resistant Ledger TV

is performed by an algorithm called shores algorithm which performs something called factorization


Quantum Resistant Ledger TV

all right let's distill all of this into quantum computers explain to grandma in bullet points


Quantum Resistant Ledger TV

here we go everything a normal or classical computer does comes from a zero or a one this includes


Quantum Resistant Ledger TV

phone calls Facebook photos messaging every all of its made up of zeros in ones with an electrical


Quantum Resistant Ledger TV

signal made from light in a quantum computer the zero in ones are more like a spinning


Quantum Resistant Ledger TV

quarter or die both a zero and a one at the same time this is the greatest advantage that


Quantum Resistant Ledger TV

quantum computers have over normal computers because they use a completely different set of rules


Quantum Resistant Ledger TV

to operate a quantum computer and the computer such as the one in your house are more different


Quantum Resistant Ledger TV

than they are a light quantum computers are still very very new and are commercially available by


Quantum Resistant Ledger TV

two companies so far IBM and d wave however governments and corporations all around the world are


Quantum Resistant Ledger TV

scrambling to build the most powerful machines at great costs quantum computers have the potential


Quantum Resistant Ledger TV

to be much much faster at solving problems in areas like cryptography engineering pharmaceuticals and


Quantum Resistant Ledger TV

finances they are great at finding solutions to come up with some of the problems that normal


Quantum Resistant Ledger TV

computers struggle with but are not good for every the quantum computers will likely never replace


Quantum Resistant Ledger TV

normal computers they need to work together as a team society is still trying to understand all


Quantum Resistant Ledger TV

the things that these machines can do and there are still existing engineering challenges that


Quantum Resistant Ledger TV

need to be overcome not all of the bugs are worked out so far so normal computers are still the


Quantum Resistant Ledger TV

best option for 99% of tasks progress in the field of quantum computers is increasing very very


Quantum Resistant Ledger TV

quickly week by week announcements by companies like IBM, ionq, d wave and honeywell seem to


Quantum Resistant Ledger TV

indicate the coming of a completely new generation of computers nothing like the ones we have


Quantum Resistant Ledger TV

today the quantum threat has been known of all from more than 25 years in 2015 researchers


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estimated that it would take a billion qubits to crack RSA 2048 later on this in 2019 this number


Quantum Resistant Ledger TV

of rzdus 20 million the latest estimates now put the number of qubits between 2300 and 2600


Quantum Resistant Ledger TV

that for qubits that are error corrected as of October 1st 2020 quantum startup ionq claims a


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quantum volume of an incredible 4 million now while this claim still needs to be a substantiated


Quantum Resistant Ledger TV

companies are getting more and more confident with their claims and in some cases putting the


Quantum Resistant Ledger TV

reputations on the line research is still being done on what level of quantum volume starts to threaten


Quantum Resistant Ledger TV

bitcoin in other areas of cryptography so the question you should be asking yourself is given the


Quantum Resistant Ledger TV

obvious and tremendous advancements being made at what point does not hold in QRL become too


Quantum Resistant Ledger TV

great of a risk stay tuned for our next episode where we continue down the path of how


Quantum Resistant Ledger TV

quantum computers and blockchain on intercept course until then thanks for watching what is


Quantum Resistant Ledger TV

that everybody and welcome back to the quantum resistant ledger channel your video portal


Quantum Resistant Ledger TV

into post quantum digital asset security i am your co host ryan i am the director of advocacy


Quantum Resistant Ledger TV

e here at the qRL and we are joined by the other co host strike who is the director of outreach


Quantum Resistant Ledger TV

for the qRL and in today's video we're going to be doing a little bit different format it's kind


Quantum Resistant Ledger TV

of going to be a smorgasbord so to speak where we're going to be jumping between a few different


Quantum Resistant Ledger TV

topics it's going to be q&a style where i am asking strike a question and it's going to be a


Quantum Resistant Ledger TV

little bit more frame today from a little bit less technical viewpoint and the intention behind


Quantum Resistant Ledger TV

today's video is the qRL project there's a lot of technical intricacies to the project so when


Quantum Resistant Ledger TV

someone comes on board and they're trying to decide hey why should i care about the project today


Quantum Resistant Ledger TV

what is the project all about our job is to try to break down the technical aspects of it


Quantum Resistant Ledger TV

so that it's more digestible to a wider audience so in today's video we're going to dive through


Quantum Resistant Ledger TV

a number of questions and i just kind of provide some answers there so strike is a cool with you


Quantum Resistant Ledger TV

if we dive into some questions and provide a little bit of insight for the community


Quantum Resistant Ledger TV

looking forward to it shoot shoot


Quantum Resistant Ledger TV

sounds good well the first question is one that is i've heard this from members of the community


Quantum Resistant Ledger TV

and just you know people in general that have shown an inkling for the project but i'll make up


Quantum Resistant Ledger TV

and paint a fictional scenario if let's say somebody is a blockchain enthusiast maybe they're


Quantum Resistant Ledger TV

involved in a few projects hold a decent variety of crypto maybe a little bit of uh e thick coin and


Quantum Resistant Ledger TV

then obviously some altcoins but why should qRL matter to them today not in two years not in


Quantum Resistant Ledger TV

five years why should qRL matter to them today sure so that's i mean that's a really good question


Quantum Resistant Ledger TV

so there's at any point in time there's a lot of emergent technologies that are coming out


Quantum Resistant Ledger TV

and one of the i would say one of the most interesting emergent technologies is this concept of


Quantum Resistant Ledger TV

a quantum computer now quantum computers have been talked about for decades and they have a you


Quantum Resistant Ledger TV

know they have a long history they have quite a bit of a long history um you know in quantum


Quantum Resistant Ledger TV

mechanics itself goes back to 110 120 years or so with Einstein and boards but uh nils four but


Quantum Resistant Ledger TV

um the ree I mean the reason it's relevant nowadays is the encryption the encryption that we use


Quantum Resistant Ledger TV

for the internet for banking transaction it's a trustless form of encryption called asymmetric


Quantum Resistant Ledger TV

encryption and this is all based on something called factorization which is being able to find


Quantum Resistant Ledger TV

take a large number and find the two factors or integers that make it up and the reason this is


Quantum Resistant Ledger TV

relevant is because quantum computers have the sufficiently powerful quantum computer has the


Quantum Resistant Ledger TV

ability to break this and i would say 99.9 percent of all blockchain technology is built around this


Quantum Resistant Ledger TV

asymmetric encryption and and if you look at so if you look at your degree of exposure


Quantum Resistant Ledger TV

and let's say you have a portfolio and i think in your example you said we had someone that already


Quantum Resistant Ledger TV

has Bitcoin maybe some other altcoins if you even think that there's a one percent chance


Quantum Resistant Ledger TV

or a two percent chance that this could be a real thing you know that these quantum computers


Quantum Resistant Ledger TV

do pose a threat it seems appropriate to possibly hedge your digital assets


Quantum Resistant Ledger TV

partially in that direction you know that one or two percent that's that's probably i would


Quantum Resistant Ledger TV

describe this probably a quantum pessimist versus not the missed in every one of the Q or L


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we consider ourselves optimistically speculative about quantum technology so you know obvious is


Quantum Resistant Ledger TV

clamor that none of that's financial advice these are just my opinions but i think that's why


Quantum Resistant Ledger TV

i think that's why it's relevant in particular with quantum computers the threat is the


Quantum Resistant Ledger TV

the implications of the technology make me want make me wonder at times if we really really


Quantum Resistant Ledger TV

know what's going on you've got companies like i'd be on in honeywell d-wave d-wave and i'd be


Quantum Resistant Ledger TV

i'm have commercially available machines already they cannot they're not able to factor or break


Quantum Resistant Ledger TV

any of the modern encryption public key encryption or asymmetric encryption today but if you look at


Quantum Resistant Ledger TV

the progress that's being made it's it's it's increasing what appears to be exponentially


Quantum Resistant Ledger TV

i mean you're getting news every now whereas used to get news every few weeks you know years


Quantum Resistant Ledger TV

ago you're getting news every day or every other day nowadays so it's really an interesting thing


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to i would say keep your eye on and here at the you know i hear at the on the Q or L team here


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we're here to provide quantum protection you know digital you know digital for digital assets


Quantum Resistant Ledger TV

curated to anyone that wants it awesome yeah now kind of a follow-up on that question of kind of


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you know why it should have mattered to me today what are some things for anyone regardless of


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where they kind of lie in the spectrum obviously that people that are a little bit further along


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a little bit down the rabbit hole they're going to be able to do a little bit more they're going


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to understand it from a technical level but what are some things that regardless of where you are


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on that spectrum how being proactive about it and what are maybe a few steps that we could be


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taking today to where the quantum impact like how it would have on me like what are some things


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that we can do to be proactive so i can only speak to what i do um and what i do is i pay attention


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if you look at some of uh some of our in some industry leaders uh Jeff Bezos Sir Richard Branson


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and there's some others that do this they follow the school of thought called ABCD


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and what that simply means is always connecting the dots and this is a form of intuitive thinking


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which means you see data point here you see you know uh data point here you see a data point


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here and then you start to see correlations and things and patterns that are happening and when


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you're able to do that it does it does give you a little bit of uh i would say a statistical prediction


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model in your head granted very subjective you know it depends on how people think but this is


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something i do all the time is trying to be able to see a paying attention i'm looking at where


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the industry is going and you know i i'm taking out the noise and you know trying to separate


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everything on the web that's you know that's monetarily do you have been or advertising and


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just trying to pay attention to the facts so uh would i would recommend to you know


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viewers out there is pay attention do your own research come to your own conclusions this is a


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complex topic sure but you also have a sense of intuition that you can use to help guide yourself


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um and right now right now we're respective to quantum computers we're still very early in the


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technology uh but at the same time look at the amount of news that is coming out look at what


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look at what honeywell is claiming look at what ivm is claiming and then consider for a moment


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what may may exist uh like an iceberg you know you have the top part of the iceberg which is


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you know smaller and then you have the ballast you know at the bottom everything that's under


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the water that you can't see how much do we really know about what's going on and these are these


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right here are my personal opinions but i think that the i just have a suspicion that the


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real progress that's being made is the one that's being kept through it is the progress that's


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being really kept close to the chest yeah the summit i might be some of the big players we we


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really don't know so ask yourself what is your what is your exposure with what's your risk what's


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your risk you're doing for now yeah if only that's itadak knew about the uh the whole size of the


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iceberg that made a big difference but diving into a different area in i think it was episode number


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seven you briefly touched on what is called nivens law and we all are very familiar in tech about


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what mors laws and that the number of transistors on a microchip doubles every couple years and


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obviously this gets applied to a lot of different areas of technology but could you maybe dive in


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for just a briefly for a few minutes on what nivens law is and uh just kind of you know cover


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what that is because i think it's important to dive into related to what we're talking about


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so that's a really good question as well so harmet neven is a researcher over at google


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he does uh artifit he does study with artificial intelligence he works with quantum


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theaters and he's involved with he's involved with the google's quantum initiative and in 2018


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he began to notice they needed to be asking more for more and more processing power in order to


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create it or compare it to the quantum processor that they were building and what we all know


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mors law for example you said it's every 16 months or every two years i think there's a little


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bit of variability there and how you interpret it uh but uh integrated circuitry uh i've


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i've seen it applied to hard drives magnetically and integrated circuitry as well but essentially


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computer powered doubles or storage doubles and in a few times but nivens law is instead of being


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exponential it's doubly exponential which means power to the power of two which if you have uh


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exponential curve you know it's that old some of you i don't know if you're like me you may have


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it when you were younger you may have tried to talk your dad into the study given you five dollar


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allowance a week you just start with a penny in the next week two pennies and four pennies and eight


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pennies i tried that he's smart it didn't work but we know that the power of exponent you know the


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power of exponentials goes up like this right goes up very very quickly and then the


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doubly exponential actually goes up much much deeper so this is an early it's not a law it's


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it per se it's not it's not a guarantee it was something that's been proposed as an observation that


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heartment made and i think it's i think it's really really interesting to consider


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um and it's also that's just based on the processing power of the quantum CPU we're not that


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doesn't take into consideration advances that are being made with uh algorithms for factorization


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uh it doesn't make doesn't take into consideration uh manufacturing uh improvements uh for


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quantum processes that are able to stay into superposition for longer periods of time


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um it doesn't take into consideration any of that and honestly even if it's only 10% true you know


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some of these things and you know they just get back to what level of risk are you comfortable with


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as far as digital assets so awesome yeah now you you briefly mentioned in the last few sentences


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as superposition i think this is an important one to dive into and i think this is one that a lot


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of people it's really hard for them to wrap their head around uh if we use like a fictional example


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of someone that maybe is not tech savvy at all let's say i'm explaining to uh i don't know unco-frank


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he used a smartphone until last year when he no longer could use uh he no longer could get service but


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picture frank is like a very laggered when it comes to adopting uh technology and right here i have


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a five francs uh coin from the 90s and it's pretty easy if i explain or you explain to anyone what


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binary is okay zero and one you flip it lands heads lands tails but could we dive in just for a


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few minutes on what superposition is and just kind of laying it out so that you know really


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we can digest it in a way that we could that explain it to to other people um and sound a little bit


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knowledgeable sure so as you said most people are aware of binary called right zeros and ones that make


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up you know eight bits to a bite makes up fundamental it's a fundamental uh constrict of classical


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computers operate. Quantum computers are completely different they don't look alike they don't look


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like classical computers they don't behave like them um they're i would i would i would say that


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they're much more dissimilar than they are similar so we know what we know what a bit is a zero or


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a one uh but what's you know what's a qubit what's a quantum bit if you were to picture a coin


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uh if you were to picture it let's picture it a bit a bit can be thought of as a coin line on the


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table heads up or tails up right a qubit picture the coin instead of lying down it's spinning okay


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and that coin is in a that coin is considered to be in a state of superposition and what this


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means is you may have heard of uh back in school and fizz's class you might have heard of uh


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light in the wave the wave slash particle duality and a lot of this goes back a hundred years


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obviously is light a wave is it a is it a does it behave like a wave or does it behave you know like a


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particle well it turns out as it turned out most you know we know that we know that it was it was both


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uh and there's this observer effect that that once you measure it it the coin essentially


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falls over and you find out what it was but up until it's observed or looked at it actually


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exist in a state of all possibilities so what this means is you have a classical computer you


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have a coin line on the table it's heads up or let's just call it heads up or tails up with a


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quantum bit it's spinning and what happens is a quantum computer is it's able to uh


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a quantum computer is able to apply what's called a quantum Fourier transformation and what that means


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is it's it's coercing the coin into to fall into the position based on the algorithm that you're


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running in order to probabilistically give you the answer that you want so that means you'll probably


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get the answer that you want they're not they're not perfect they may never be we don't know but


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it it it coerce is that point of fall to give you the answer based on the algorithm


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and there's also other things like entanglement and other components of quantum computers the


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probably not definitely outside of scope um but i mean that's as far as a simple explanation that's


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as simple as i think i can make it there's a lot of videos out there that that do explain this


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in a little bit of work detail and if you're really interested i definitely would at least


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recommend looking up young's double slit light experiment awesome no thanks appreciate it and


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the last question uh for today's show is one that kind of relates to the first part


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we were talking about with why it should cure our matter to me today and this kind of ties to the


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quantum threat and i think this is a really good last question to dive into because i think this is


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something that myself yourself uh the other members core contributors for cure all and the community


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as whole is how how what are a few scenarios of how the quants and threat plays out obviously


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we are not a genie we do not have an exact timetable but what are a few various scenarios


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and first of what do they you know potentially look like and how could they potentially affect us i


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think this is both a a real realistic question you know scenarios and just a fun question because


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obviously we don't know the exacts on it yeah no man how could this play out um


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you know i back to my iceberg analogy i think that there's more this is my opinion


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um others may or may not share it you know uh this is konik konik konik computing is a


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hotly debated field it can i've seen it um take you know very intelligent people in polarize


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their you know polarize them in completely opposite directions but how do i personally think it


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will play out i think that there's more happening behind the scenes than it's what than what's


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publicly visible if i had the guests not saying for sure um and that that makes me think


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there's also we have most most quantum computers nowadays work the industry right now is looking for


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what is going to be uh of the best practice for building a quantik computing right now it seems to


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be this iron trapping method but there's also this if you look up there's also another type of


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computer it's a full ton of computer it uses lights with that which can operate at you know which


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operates closer to room temperatures um and there's a lot of mystery behind trying to figure out


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exactly what these full tonic quantum computers can do um and when i see things operate you know


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without a lot of media exposure and that it seemed to be playing under their radar a little bit


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you know it makes me think a little bit more um i mean like i said earlier you have the


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commercially available ones by you know uh dewave and i'd be i'm in i think honey well started


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renting out their quanic beer somewhere thousand dollars an hour or something like that uh but


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as far as how it plays out i think it could be sudden um i there's this whole part that we just


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don't know um all we see is what's in the news and what's commercially available um but if i had


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to guess i don't think he won't see a quan i don't think you'll see a quan of Peter mining


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bitcoins the problem with that is any proof of a quan of computer interfacing with the blockchain


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would quite quickly undermine confidence in the in blockchain as a whole um and i'm pretty sure


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that would you know that would translate over to altcoins in the entire space um um


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hat you know uh hash rates locations of miners these things are really well-monarded in the crypto


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community um you would want if someone were to if someone were to use a quan on computer against


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blockchain technology they would do so under the radar in some way so as to be there maybe through


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a slow cycling process and the mere main unattetit it probably distributed you know it across


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multiple altcoins in order to further make it look like um you know like uh something that's you know


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just to further disguise the approach so i really don't know it's a good question hit you know


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the time will tell um that's the best i got awesome no i appreciate it it's kind of uh it's kind of


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one of those ones that we we and the members of the community can probably you know discuss on you


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know what we're our angle is for for hours and hours so um over the next coming videos and shows


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um one of the main things we're going to be doing is diving into kind of an assortment of topics


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sometimes we're gonna you know stick down go down a lane and go a little bit more deeper


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not as much jumping around but today's was a little bit more um less technical explaining things


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a little bit but it's all with the intention of making the QRL more understandable and that


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just a vote for a wider audience and make sure um coming up we're going to be doing some good


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videos coming up for the move to uh POS and also some exciting news with on play of coming up


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make sure that in order for you to be able to be kept notified and abreast about that make sure


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that everyone subscribes to the channel if you have not already and uh myself and strike we look


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forward to bring valuable content what we're also going to be doing is we are going to be taking


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actual questions from the community today we took a few questions from the community but we kind


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of put more of a broad span on it but for a few upcoming videos what we're going to be doing


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is we are going to be taking exact questions from telegram from discord etc and we're going to be


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asking them live and upcoming videos so make sure that you tune in and make sure that you're asking


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questions there that that could be applicable to a wider audience to be able to dive into


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and until next video myself and strike appreciate you watching this and we will see you on the next


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show have a great best run


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what record


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How's it going everyone and welcome back to another episode of the Quantum Resistant


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Ledger channel, your 21st century video portal into the world of post quantum digital asset


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security.


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I am your co-host Ryan.


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I am the director of advocacy here at the QRL.


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We are joined by strike who is the director of outreach and today we are going to be diving


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into two primary questions that are kind of follow-ups to what we have been talking about


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in the past episodes.


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And strike the first question I want to dive into is there's been a bit of confusion amongst


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crypto communities regarding the quantum threat and what it is.


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So the question I want to post to you and just for one for us to dive into today is


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where exactly is that threat coming from?


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I know it people's opinions differ on it but I would love to dive into where exactly do


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you see that threat coming from?


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Yeah so there is a lot of speculation online as to a lot of confusion as well as to what


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this threat is and where it actually exists.


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So it is probably good to clarify some of that and break it down and do some really, really


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simple components which is surprisingly easy to do.


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So in order to understand where the threat exists you need to understand a little bit


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about Bitcoin.


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So I use Bitcoin as the example here of the same concept supply to altcoins and the rest


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of the blockchain ecosystem in all likelihood but we use Bitcoin as a reference.


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So with Bitcoin addresses a Bitcoin is essentially a 256-bit random number.


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Now there are different wallets will get to this 256 random bits in different ways but


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at the end of the day a Bitcoin wallet is just a 256-bit random number.


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That is the first component.


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The second component is once you have this random number that is your private key for


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Bitcoin.


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On that private key your computer will perform a function called elliptical curve multiplication


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and through this elliptical curve multiplication process you end up with your public key and


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your public key is what you share with everyone else to send to.


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So where the whole issue comes in is this process between this 256-bit random number which


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is your private key to where your wallet generates from that a public key through this elliptical


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curve multiplication process.


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That is a conventionally considered to be a one-way function means it only works in one


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way.


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You can take a private key and you can generate a public key but you conventionally cannot


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take a public key and generate a private key.


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So this whole quantum threat that everyone is talking about is the ability to be able to


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take that using short algorithm and a process called quantum-free or transform and cubits


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with a sufficiently powerful quantum computer you can take that public key and generate


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a valid private key.


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So this is less about reusing addresses and a lot of the other things that you hear people


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talk about online as far as security concerns and anonymity.


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This is less about any of that.


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It really just comes down to this one fundamental part.


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In the early days Bitcoin used to write the public keys into the blockchain.


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Nowadays just the hashes are being written into the blockchain and as far as we know there


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isn't a conventional or quantum way to be able to take a hash in the blockchain and then


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be able to find and then be able to transfer that into a private key.


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As far as we know that doesn't exist but the fact is that public keys are everywhere.


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So we're never really intended to be private.


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So I mean they exist.


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I saw something online the other day where it says up to 30% of public keys are within


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the Bitcoin block space within the Bitcoin block space we're already known.


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So like I said these were never intended to be private but it was also Bitcoin was never


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built around the quantum threat.


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So this one way function of being able to go from this one way function of generating


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a public key from a private key was never intended or imagined to be reversed theoretically


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at the time but with all with you know sufficiently powerful quantum computer you in theory


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can do that.


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So I hope that explains a little bit about the Bitcoin wallet process and breaks that down


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into something understandable and digestible.


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I appreciate it it's kind of it's very complex but to try to break it down into a succinct


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answer like that that really helps one part that I want to kind of go into is kind of


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the second and final question just for today's episode is there's been talk and you


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know whether we're talking Bitcoin or Ethereum and how it's tied to the quantum threat of


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hey when the quantum threat you know when it reaches a point where it's actually a threat


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you hear some people talk about well you know at that point there's really not a worry


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we already have a plan for that there's just going to be a simple you know not a simple


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but there'll be an upgrade or it'll fork at that time to something that's quantum to secure


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but can you dive a little bit into what they're saying behind that and then actually


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you know what is more of the likely scenario what's going to happen because just saying


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that you're going to upgrade or you know fork to something that's quantum secure then


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it doesn't really you know if you go on to YouTube or if you're just searching you know


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the interwebs it doesn't really give it it's not really a good answer and I don't think


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it really answers the question so could we dive into that a little bit?


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Yeah so if you go online and you start looking at what people are saying regarding their


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projects or you know if they're you know if they're in support of a project they'll


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say all of the conversations come down to essentially one thing and if you if you


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just still everything it comes down to well the project will just hard fork and hard


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forking is an option but with many things in life you have to look you have to look below


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the surface hard forking by itself is something that projects do well do somewhat often


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I would say but the type of hard fork and the projects that would need the hard fork and


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the and the scope of the quantum threat are really things that are things that people aren't


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really talking about I'll use Bitcoin for an example if you go online you'll see okay


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well is is is the quantum threat is that does that directly threaten Bitcoin you'll see


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Paul's of course not Bitcoin can just hard fork okay well that's not entirely that's not entirely


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to if you if you're at a hard fork Bitcoin the problem isn't really the protocol itself


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and some sort of consensus model the problem is the addresses themselves as we talked about


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a few minutes ago you have the private address and then you have the public address these


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are the addresses that are in the beginning of the blockchain are in there now and this


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is a fundamental part of the chain in order in order for you to go quantum secure in


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Bitcoin you'd have to change the entire addressing structure now respective to consensus


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Bitcoin does consensus very well with proof of work right it uses it uses modern and uses


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you know relative to the modern cryptography in order to reach consensus on transactions