Quantum Resistant Ledger TV

but what it really doesn't do as well is consensus for governance of the protocol this


Quantum Resistant Ledger TV

is completely distributed so point being if you were to try and make let's say you want


Quantum Resistant Ledger TV

let's say there was a sufficient number of people came together in this openly governed


Quantum Resistant Ledger TV

project which is Bitcoin and they wanted to go quantum school you would have to gain consensus


Quantum Resistant Ledger TV

not just on going quantum secure but the type in way in which you wanted to go quantum


Quantum Resistant Ledger TV

secure then you would need to find consensus on the code and then you need to have everyone


Quantum Resistant Ledger TV

change their addresses at some point and you'd have to have everyone upgrade their nodes


Quantum Resistant Ledger TV

essentially everything would need to change I mean I can't consider I personally I can't


Quantum Resistant Ledger TV

view it anything less than what would be Bitcoin 2.0 so it's it's it's not the type of


Quantum Resistant Ledger TV

change would be I would say the scale or scope of this type of change would be unprecedented


Quantum Resistant Ledger TV

in the blockchain community so not to say it's impossible the crypto you know the crypto


Quantum Resistant Ledger TV

ecosystem has incredibly dedicated that you know incredibly dedicated and intelligent


Quantum Resistant Ledger TV

developers you know there's a lot of creativity in this entire space with people very in


Quantum Resistant Ledger TV

skill sets you know all over the world if you know but if I definitely see consensus as far


Quantum Resistant Ledger TV

as like governance of the Bitcoin protocol in order to reach something that is actually


Quantum Resistant Ledger TV

a high quality pulse quantum secure project that's what that's where the challenge really


Quantum Resistant Ledger TV

is some other but some other all coins may have some advantages in this area you'll see


Quantum Resistant Ledger TV

a lot of I'll just use Polkadot for example you know Polkadot has the distributed governance


Quantum Resistant Ledger TV

model in which you can go online and you can fall in things like that and those votes when


Quantum Resistant Ledger TV

you go online you can see the votes okay I'm proposing this I'm proposing this and the proposals


Quantum Resistant Ledger TV

you know Bitcoin doesn't Bitcoin doesn't have this advanced governance structure where


Quantum Resistant Ledger TV

the transparency and things like that so I mean that becomes that that becomes a bit of


Quantum Resistant Ledger TV

a challenge I mean you do have you have common repositories and things like GitHub that


Quantum Resistant Ledger TV

will do that but you know but nothing on change and just the scale the number of people


Quantum Resistant Ledger TV

that would have to come to agreement that works really great for consensus of transactions


Quantum Resistant Ledger TV

that becomes quite a bit more difficult once you involve people and if you bring up a


Quantum Resistant Ledger TV

great point to the governance and I think that a lot of people are just looking at it from


Quantum Resistant Ledger TV

the wrong viewpoint of their they're not actually like if you look at it actually of what


Quantum Resistant Ledger TV

the addresses if you're looking at the public it's like if that is public knowledge to


Quantum Resistant Ledger TV

other people then there's a threat so you doesn't matter how you're storing it if that


Quantum Resistant Ledger TV

public address is being being shown wherever whether it was in the past or currently but


Quantum Resistant Ledger TV

I appreciate you diving into that I feel like that's a really kind of one that we can talk


Quantum Resistant Ledger TV

about for a while but I appreciate answering a few of these questions and what we're going


Quantum Resistant Ledger TV

to be doing in some of the upcoming episodes we're going to be diving more into depending


Quantum Resistant Ledger TV

on when you're watching this video we're going to have the new QRL website launch might


Quantum Resistant Ledger TV

already be launched depending on when you are watching this video more exciting news coming


Quantum Resistant Ledger TV

up with the move to POS onclave and the strike I appreciate you taking a few minutes of time


Quantum Resistant Ledger TV

to dive into some of these answers based on internal meetings that we're having within the


Quantum Resistant Ledger TV

team and I appreciate you watching from strike and I have a great rest of the day and we will


Quantum Resistant Ledger TV

see you in the next few days thank you see you what is up everybody and welcome back to another


Quantum Resistant Ledger TV

episode of the Quantum Resistant Ledger channel I am Ryan your co-host and I am joined here by


Quantum Resistant Ledger TV

a strike the director of outreach here at the QRL strike it's good to have you here what's going on


Quantum Resistant Ledger TV

doing great looking forward to some more content that we're trying to put out and good day


Quantum Resistant Ledger TV

awesome well for this video today whether you are QRL OG one of the originals or if you're


Quantum Resistant Ledger TV

newer to the QRL channel ensure this is your video portal for everything post quantum


Quantum Resistant Ledger TV

digital asset security in today's video we're going to be diving into kind of the temperature


Quantum Resistant Ledger TV

of quantum computers that's kind of the route of today's video but now coming videos we talk


Quantum Resistant Ledger TV

all things fuel route but we also talk about other popular areas of crypto you know whether it's


Quantum Resistant Ledger TV

Bitcoin whether it's just talking about progress of the industry as a whole or on a more micro level


Quantum Resistant Ledger TV

but strike in today's video I want to ask you a few questions about kind of a hot topic that all


Quantum Resistant Ledger TV

of us are probably being made aware of based on a news cycle and that is we're hearing about


Quantum Resistant Ledger TV

Pfizer and Moderna which are these vaccine companies and they've been all over the news of saying hey


Quantum Resistant Ledger TV

the Pfizer vaccines got to be at negative such and such degrees and the Moderna one can be a little


Quantum Resistant Ledger TV

bit warmer at something negative degrees I don't know if I think one was at negative 80 maybe


Quantum Resistant Ledger TV

the others at 30 or 40 but I wanted to ask you since quantum computers need to be in a cold


Quantum Resistant Ledger TV

environment how cold do quantum computers need to be in comparison to these vaccines can you dive


Quantum Resistant Ledger TV

into how cold they need to be yeah it was I was looking this up the other day I think it was


Quantum Resistant Ledger TV

the two numbers were nag 70 and nag cells nag 20 cell CS on the scale and that was I think


Quantum Resistant Ledger TV

that's something to do with preventing the enzymes from breaking down but respective to quantum


Quantum Resistant Ledger TV

computers like like many things in life everything is relative there's cold it's a cold day there's


Quantum Resistant Ledger TV

colder then there's really cold and then there's just really really cold it when you start talking


Quantum Resistant Ledger TV

about the scale the degree of coldness when you're talking about a quantum computer is you're talking


Quantum Resistant Ledger TV

about a controlled system or environment you can picture essentially a very large enclosure to where


Quantum Resistant Ledger TV

all energy has been removed from that system and it's insulated and kept cold in such a way that


Quantum Resistant Ledger TV

it's kept at fractions of a degree above absolute zero absolute zero meaning that there's no more


Quantum Resistant Ledger TV

energy that can be taken out of the system its energy is is zero is zilch they're very very much


Quantum Resistant Ledger TV

colder yeah what are the biggest first off then what are the biggest challenges with


Quantum Resistant Ledger TV

getting quantum computers this cold and then also who are a few of maybe leaders in the space


Quantum Resistant Ledger TV

where you think hey they're actually making really good progress I know it seems as if every other


Quantum Resistant Ledger TV

week or every other month there's some announcement from you know a Honeywell or IBM or one of the


Quantum Resistant Ledger TV

big players and hey they're making big progress or maybe it's ionq where they're saying we're


Quantum Resistant Ledger TV

going to get to such and such cubits by by now but who are a few players in the space or that you're


Quantum Resistant Ledger TV

kind of our maybe are impressing you or who maybe you think okay they're actually making really


Quantum Resistant Ledger TV

good progress based on your knowledge of it sure so there's a lot there's a few major players


Quantum Resistant Ledger TV

in the space i mean a prefix with my own personal opinion is that quantum is a bit I think I've


Quantum Resistant Ledger TV

said before a bit like an iceberg like that and then i'll analogy um the progress that we see in


Quantum Resistant Ledger TV

the news in the papers coming out um that's that's that's that's what's publicly visible the top of


Quantum Resistant Ledger TV

the iceberg there's there's a lot of strong indicators and nothing concrete but there's certainly a lot


Quantum Resistant Ledger TV

of news that is proprietary secret that is under underneath the surface that you can't see


Quantum Resistant Ledger TV

but as far as commercial leaders in the space we've got a bunch of we've got uh idea they're


Quantum Resistant Ledger TV

their leader we've got Honeywell um we've got ionq as you mentioned uh we've got d-wave they've been


Quantum Resistant Ledger TV

the longest player in the space with their quantum annealing machines uh the rest of the machines


Quantum Resistant Ledger TV

are mostly based on uh trapped ion machines and there's also a type of quantum computer that it


Quantum Resistant Ledger TV

called a photonic quantum computer which runs uh using essentially stream of light photons which


Quantum Resistant Ledger TV

has the advantage of being able to run closer to room temperatures um so the technology behind the


Quantum Resistant Ledger TV

refrigeration has actually really really it's just incredible honestly um dilution refrigerators


Quantum Resistant Ledger TV

being able to reach that level of temperature is incredibly challenging the whole goal behind that is to


Quantum Resistant Ledger TV

be able to remove all the energy from within this you can just think of it as a really large


Quantum Resistant Ledger TV

thermos and you want to be able to remove all that energy so that none of the what people in the


Quantum Resistant Ledger TV

field will call systemic noise which is stray electromagnetic radiation the fault crimes or


Quantum Resistant Ledger TV

anything anything that might come into contact with that tube it you have to keep away because


Quantum Resistant Ledger TV

if something comes into contact with it any matter energy anything it will collapse


Quantum Resistant Ledger TV

that wave function of that cubed and essentially um it's like it would be the same thing as if


Quantum Resistant Ledger TV

your windows machine were to loose that's all sensitive these are so there's a lot of progress


Quantum Resistant Ledger TV

that still needs to be made but uh respective to your other question as far as um uh what uh what


Quantum Resistant Ledger TV

what the latest news others tremendously is that it's coming off uh if you look at if you look at


Quantum Resistant Ledger TV

where we used to be just a few years and over where we are now this is um this is a this is a scale


Quantum Resistant Ledger TV

that you know it's a chart it looks like this to where this the amount of news the amount of


Quantum Resistant Ledger TV

research and the amount of funding being put in in the you know the uh accomplishments being


Quantum Resistant Ledger TV

made and the discovery being made it's it's really quite workable yeah and it's not just uh private


Quantum Resistant Ledger TV

money being put into there's also uh money from the public sector being put in all sorts of places


Quantum Resistant Ledger TV

but publicing government yeah and there's lots lots of government funding to yeah and in to me that's


Quantum Resistant Ledger TV

like where we don't i don't i don't think i've seen any announcements from you know from uh


Quantum Resistant Ledger TV

government or nations on what their progress is i don't see that that that doesn't show up you know


Quantum Resistant Ledger TV

and in government of funding it's one of our biggest you know it's one of the is a huge area of


Quantum Resistant Ledger TV

research yeah that that that's means a big a big unknown what's happening there it's an interesting


Quantum Resistant Ledger TV

question yeah so speaking of things that take a while to find out um or to find out what the


Quantum Resistant Ledger TV

answer of it is and uh speaking of those would be uh the nist announcements uh recently of going


Quantum Resistant Ledger TV

from draft recommended to um official along with LMS and just kind of their announcement of moving


Quantum Resistant Ledger TV

forward with the quantum secure hashbase uh six game with xmss and for a lot of people watching


Quantum Resistant Ledger TV

this they're going to know what that is but for the people that maybe don't or if just the


Quantum Resistant Ledger TV

importance of this in general um this is not something that's just hey it happened type thing this is


Quantum Resistant Ledger TV

kind of a a foresight um a long time ago and it played out uh you know based on getting the exact


Quantum Resistant Ledger TV

card right of um which um which way to move forward i think this is big news so can you just cover


Quantum Resistant Ledger TV

just for a minute or two just kind of what the nist announcement means and uh for the q


Quantum Resistant Ledger TV

or al and just in general for uh for the industry certainly so back in 2016 which is like three


Quantum Resistant Ledger TV

lifetimes ago because yeah sweet and purple and things move fast and crypto and right yeah um so


Quantum Resistant Ledger TV

back in 2016 the nasc which is a national institute of standards and technology for the united states


Quantum Resistant Ledger TV

they put out this announcement requesting uh they want they wanted nominations for public key


Quantum Resistant Ledger TV

post quantum cryptographic algorithms which is basically saying okay we're listening guy we're


Quantum Resistant Ledger TV

listening guys whether you're coming from pro you know private public sector government it doesn't


Quantum Resistant Ledger TV

matter send us your ideas on how we can take public key cryptography which is asymmetric


Quantum Resistant Ledger TV

you know asymmetric cryptographic functions things that secure your website traffic


Quantum Resistant Ledger TV

your credit card numbers um anytime that you have um a public key and private key you know


Quantum Resistant Ledger TV

that type gets hundreds of your ideas we're willing to listen this is complex topic we're willing


Quantum Resistant Ledger TV

to listen so at that time there was like I think there was like 60 or 70 submissions that went through


Quantum Resistant Ledger TV

and after three or four uh um phases some of them some of them were broken flat all broken


Quantum Resistant Ledger TV

some of them were cracked some of them didn't meet quality tests when and I got to give credit to


Quantum Resistant Ledger TV

Peter on this um somehow he was able he he ran through this in his head and uh there you know


Quantum Resistant Ledger TV

there may have been other people involved you know I was in the meeting I wasn't there


Quantum Resistant Ledger TV

but when each you ended up going with XMSS and up until just I think it's been a month or two now


Quantum Resistant Ledger TV

up until a month or two XMSS has gone from um draft recommended state to an official recommendation


Quantum Resistant Ledger TV

for post quantum secure um public you know a hash based functions so


Quantum Resistant Ledger TV

there were a lot of options I was a if just if you're to just if all things being equal if you're


Quantum Resistant Ledger TV

to just try and pick one that's like a three or four percent chance yeah get or nailed it


Quantum Resistant Ledger TV

there's some sort of synergy there that's able to see what's coming and I've talked about this


Quantum Resistant Ledger TV

before just being able to connect those dots I thought that was I thought that was great intuition


Quantum Resistant Ledger TV

yeah no thanks for if you're diving into that for for a few minutes and uh and hopping on the


Quantum Resistant Ledger TV

phone with us to talk about that for a few what we're gonna be doing strike or what I'd like to


Quantum Resistant Ledger TV

be doing in an upcoming video or two um not only do I want to dive into kind of some misconceptions


Quantum Resistant Ledger TV

with the Bitcoin hard fork I know that would have some strong opinions on that but we just uh


Quantum Resistant Ledger TV

myself and let's be for a topic of mine yeah and just based on internal conversations we're having


Quantum Resistant Ledger TV

amongst the teammates there's a lot of news going on just within the crypto industry in general


Quantum Resistant Ledger TV

whether it be stuff that we're doing at the QRL progress that we're working on or it's just


Quantum Resistant Ledger TV

uh you know Bitcoin in general of you know there's so much interest in there in that area


Quantum Resistant Ledger TV

but one thing I wanted to mention is if you haven't already seen it um the QRL our new website has


Quantum Resistant Ledger TV

got a complete haircut makeover so if you haven't already checked it out make sure that you go to


Quantum Resistant Ledger TV

the qRL.org.com.org. We are not the Queensland Rugby League it is the first results when you search on


Quantum Resistant Ledger TV

Google or if you just type it in to your URL but um and upcoming videos we're gonna be diving in


Quantum Resistant Ledger TV

like I said I heard they're good though yeah but we're gonna be diving into you know misconceptions


Quantum Resistant Ledger TV

on the Bitcoin hard fork a Bitcoin and then progress we're doing internally uh on the team but


Quantum Resistant Ledger TV

I appreciate you chatting with us straight uh chatting with us. Always morning and we will see you


Quantum Resistant Ledger TV

in the next video and until then strike have a have a great rest of the day. Good to see you on


Quantum Resistant Ledger TV

a watch and as well thank you so much bye bye.


Quantum Resistant Ledger TV

What is up everybody and welcome back to another episode of the Quantum Resistant


Quantum Resistant Ledger TV

Ledger Channel your information superhighway into the world of post quantum digital asset security


Quantum Resistant Ledger TV

in today's video we're gonna be diving into some of the misconceptions around


Quantum Resistant Ledger TV

Bitcoin's ability to hard fork, soft fork moving forward and we're gonna go through a few


Quantum Resistant Ledger TV

these questions. My name is Ryan I am the director of advocacy here at the QRL I will be your


Quantum Resistant Ledger TV

co-host today and I'm joined by our director of outreach strike it's good to have you back on


Quantum Resistant Ledger TV

another YouTube episode. So it's good rock and roll.


Quantum Resistant Ledger TV

Cool we we get to dive into a few questions I know we've uh pulled some internally from our team


Quantum Resistant Ledger TV

and just from the community but you could answer some questions here on some of the misconceptions.


Quantum Resistant Ledger TV

Yeah let's uh let's do that. Perfect well really I want to kind of dive into the some of these


Quantum Resistant Ledger TV

questions and kind of frame it with there has been talk from different people in the industry


Quantum Resistant Ledger TV

over the years whether it be more recently or even a few years back so like for example


Quantum Resistant Ledger TV

Andreas and Sanopolis a few years back when he was asked a question on the Quantum Threat


Quantum Resistant Ledger TV

he answered with hey we can easily migrate to another algorithm other people have said


Quantum Resistant Ledger TV

things similar to that more recently or at least given kind of uh you know throw to the side type


Quantum Resistant Ledger TV

of answer some people to answer it differently than others but what I want to dive into first is


Quantum Resistant Ledger TV

Bitcoin developers have already planned for this I want to ask that question of when someone says


Quantum Resistant Ledger TV

hey with the Quantum Threat coming up developers have already planned for this I want to ask you


Quantum Resistant Ledger TV

when you hear that response to the Quantum Threat what would you say in response to that?


Quantum Resistant Ledger TV

Sure so that's a good question I've heard that I've heard that narrative a few times


Quantum Resistant Ledger TV

in social media. I guess first off my first instinct is what


Quantum Resistant Ledger TV

where is the evidence that you know something that like this has been planned for I don't see


Quantum Resistant Ledger TV

you know there's nothing in the code and given the fact that the problem itself is based on the


Quantum Resistant Ledger TV

addressing structure not some sort of sub function within the code or a component of the nodes


Quantum Resistant Ledger TV

you know an ancillary component of the nodes code the problem the problem itself is the


Quantum Resistant Ledger TV

addressing structure it's like um your uh your engine the engine of your car you know it has a


Quantum Resistant Ledger TV

hairline fracture it's running at some point in the future you know there's a statistical chance


Quantum Resistant Ledger TV

that you could experience a problem you're not can be able to fix it with a fresh coat of paint


Quantum Resistant Ledger TV

so I mean there had a planning for if if planning for means discussion


Quantum Resistant Ledger TV

there has been discussion around early discussions I think like three years ago us or


Quantum Resistant Ledger TV

saw where developers were talking while using lamp or signatures which is a one-time signature scheme


Quantum Resistant Ledger TV

but as it exists today there's nothing in the you know in the Bitcoin coin code that you know has


Quantum Resistant Ledger TV

that compatibility so if planning for equals talk then then planning for I guess that equals true


Quantum Resistant Ledger TV

but if anything more than talk you know than false yeah can we dive into based on that let's dive


Quantum Resistant Ledger TV

into both hard fork and soft fork misconceptions I know um kind of maybe you can go through


Quantum Resistant Ledger TV

either one first and then dive into the other but let's dive a little bit into one and then the


Quantum Resistant Ledger TV

other of what the misconceptions around each of those are you can dive into either or first doesn't


Quantum Resistant Ledger TV

matter which one sure so I'm gonna prefix I'm gonna prefix my answers with nothing really is impossible


Quantum Resistant Ledger TV

yeah obviously we I think everyone in the crypto community has to give credit to the ingenuity


Quantum Resistant Ledger TV

of developers you know that have been working on this technology or me to the coin itself


Quantum Resistant Ledger TV

yeah absolutely blockchain and there's always you know there's always this there's always this tug


Quantum Resistant Ledger TV

and war of what's possible versus engineer software developer ingenuity so I these are my opinions


Quantum Resistant Ledger TV

you know there's always there are always new developments made and new discoveries and new


Quantum Resistant Ledger TV

ways of doing things Bitcoin in front of example you know as a you know representative of watch


Quantum Resistant Ledger TV

of watching so um but one of the real common narratives that I hear is Bitcoin will just


Quantum Resistant Ledger TV

hard it will just hard that coin will just suck and it's usually with soft fork or hard


Quantum Resistant Ledger TV

for it to something that's close to quantum sphere um in the way that it's said is usually pretty


Quantum Resistant Ledger TV

casually you know it's just uh you know it's just dropping this dropping this module you know


Quantum Resistant Ledger TV

you know suddenly quantum sphere um but let's talk about let's talk about this problem for


Quantum Resistant Ledger TV

it's multi first off what's the difference between software software is typically a software


Quantum Resistant Ledger TV

is something as simple as just the upgrade to a node that remains backward compatible with


Quantum Resistant Ledger TV

other nodes and does not require a new chain to be created um you know example might be segment


Quantum Resistant Ledger TV

made native segment for Bitcoin um that did not require a new chain that was just a lot of


Quantum Resistant Ledger TV

application to the address which is actually so a hard fork is when you have a new chain that gets


Quantum Resistant Ledger TV

split off from the existing chain and then you essentially end up with new chains um in some cases


Quantum Resistant Ledger TV

you could even start to chain off that zero uh that genesis block depending on how you do it


Quantum Resistant Ledger TV

but those are that's essentially the differences soft fork you know same chain


Quantum Resistant Ledger TV

a hard fork it was a new chain so okay soft what would a pulse quantum secure Bitcoin soft


Quantum Resistant Ledger TV

for it potentially looks like okay as i mentioned they've been talking about the import signatures


Quantum Resistant Ledger TV

but here it is let's say you were able to let's say you were able to build in a pulse quantum


Quantum Resistant Ledger TV

secure module into the Bitcoin software in be all this you'd be able to just upgrade your node


Quantum Resistant Ledger TV

right and then you'd be able to receive asymmetric addresses public key public key


Quantum Resistant Ledger TV

eCdSA addresses the normal Bitcoin addresses and you'd also be able to receive


Quantum Resistant Ledger TV

pulse quantum secure addresses that doesn't really solve the problem because as as in my earlier


Quantum Resistant Ledger TV

example segment and native segment these are all different ways of sending a doing a transaction


Quantum Resistant Ledger TV

but it's all still Bitcoin and if it's all still Bitcoin it's all tied into the same pricing


Quantum Resistant Ledger TV

mechanism it's all considered consciously to be the same so and that's not to mention that


Quantum Resistant Ledger TV

developed trying to put together a pulse quantum secure version of Bitcoin on the world's largest


Quantum Resistant Ledger TV

cryptocurrency with a market cap that you know exceeds general motors being able to have


Quantum Resistant Ledger TV

being able to reach some sort of distributed and an intelligent and tested and workable consensus


Quantum Resistant Ledger TV

on something that is you know so large and exists everywhere getting everyone to agree on what this


Quantum Resistant Ledger TV

looks like and i said this before that that type of effort would likely be unprecedented


Quantum Resistant Ledger TV

blockchain here tremendous tremendously difficult so the sah


Quantum Resistant Ledger TV

the sah


Quantum Resistant Ledger TV

addresses are susceptible to shores algorithm which run on quantum computers which are based on


Quantum Resistant Ledger TV

factorization a sufficiently powerful quantum computer would be able to take a public key


Quantum Resistant Ledger TV

and generate a private key and then be able to spend transactions from a wall so it's not just


Quantum Resistant Ledger TV

you know we're not just trying to change the color of you know a button here or you know add


Quantum Resistant Ledger TV

add some additional functionality the addresses themselves are the problem and this is all because


Quantum Resistant Ledger TV

of ecdsa which is you know which it is wonderful against classical computers i think i think i did


Quantum Resistant Ledger TV

some i think it was reading the other day and doing some math and i think classical computers would


Quantum Resistant Ledger TV

take such something like 1.5 or 1.6 billion years on average in order to break that's what it


Quantum Resistant Ledger TV

was like Bitcoin ecdsa address so that means it's classically it is here it has


Quantum Resistant Ledger TV

but with you know that all changes when you start when you start talking about and the potential


Quantum Resistant Ledger TV

for so what about hardcore you would you would take a note upgrade the problem is that you have


Quantum Resistant Ledger TV

all of these old addresses that exist and that are that are not quantum secure and then you need


Quantum Resistant Ledger TV

to put these into the new chain somehow and i was thinking about this a little bit today i mean


Quantum Resistant Ledger TV

maybe there could there be a way where you could do prove that you will in bitcoin in order to get


Quantum Resistant Ledger TV

into the new chain by using sub-relating zero knowledge proofs or something like that i don't know


Quantum Resistant Ledger TV

i don't know if that's possible at the very least no matter how you do i see a number of problems


Quantum Resistant Ledger TV

one ever it seems like doing an automatic upgrade i haven't seen any any reasonable


Quantum Resistant Ledger TV

conversations on having an automated way to do this to take the chain and then just make a


Quantum Resistant Ledger TV

pulse response you're you know and have your private in your wallet work


Quantum Resistant Ledger TV

second let's say you were let's say there were some sort of user-oriented process in which you


Quantum Resistant Ledger TV

you did some sort of something online or some sort of function and you were able to you know one


Quantum Resistant Ledger TV

to one transfer it over what about people that you know missed that missed that transition


Quantum Resistant Ledger TV

what does what does pricing look like when you have old bitcoin and new bitcoin so is that one


Quantum Resistant Ledger TV

to one you know and how do you get everyone to be able to how do you communicate this out to everyone


Quantum Resistant Ledger TV

who writes who how do you get consensus on the code and it still gets back to it still gets back to


Quantum Resistant Ledger TV

an unprecedented level of cooperation among distribute you know distribute across the world


Quantum Resistant Ledger TV

on reaching consensus on how to do this it's it's just a huge problem if it is


Quantum Resistant Ledger TV

and i'm sure there's some sort of a mathematical representation in which this is possible to do


Quantum Resistant Ledger TV

i'm just not hedging my bad sort of opinions in that direction so it would be impossible


Quantum Resistant Ledger TV

not impossible i'm not an impossible type of person very very very difficult probably unlikely


Quantum Resistant Ledger TV

it might be yeah that's that's that's that kind of dives into it and we can probably it's there's


Quantum Resistant Ledger TV

just there's a lot of me to those that question and just each each of those in general but


Quantum Resistant Ledger TV

i think you've really touched on this a little bit there's also i like the question of if they're


Quantum Resistant Ledger TV

able to break shot 256 then we'll just upgrade to 384 can you dive into that for a minute just a


Quantum Resistant Ledger TV

little bit more it's kind of i like that that question of because it's people i've seen that at


Quantum Resistant Ledger TV

when i have replaces yeah sure so i mean there's a lot of in right place so there's a lot of


Quantum Resistant Ledger TV

confusion around cryptography encryption hash mail of rhythms shot 256 three those are hashing


Quantum Resistant Ledger TV

algorithms essentially what that means is you have you have a stream of texture you have some sort


Quantum Resistant Ledger TV

of input and then you get a and then you get a defined output every time you run that you get the


Quantum Resistant Ledger TV

same output um shots shots already those are already quantum secure and now there is


Quantum Resistant Ledger TV

the they're considered to be quantum secure now there are quantum ways to go about trying to get


Quantum Resistant Ledger TV

of get the preimage of the of the hash output um rollers quantum algorithm is one of those that


Quantum Resistant Ledger TV

that has the potential to do that um but it's not it's not efficient where it's really


Quantum Resistant Ledger TV

considered to threat again the threat come the problem is not the hash we use we are protocol


Quantum Resistant Ledger TV

you know the quantum resistance ledger is based on a one-time signature hash based


Quantum Resistant Ledger TV

signature speed so we use hashes internally so hashes find the problem is the public and private


Quantum Resistant Ledger TV

keys being able to see the public key on seeing someone's public key and then being able to generate


Quantum Resistant Ledger TV

which is what is supposed to be a one-way gate or a one-way punch able to generate a workable


Quantum Resistant Ledger TV

private key from them which basically opens up opens up a wallet that's the real problem hashes


Quantum Resistant Ledger TV

not a problem what about the idea of well if you don't reuse addresses that is another question


Quantum Resistant Ledger TV

that I saw that I liked um you're safe because it would only expose the hash of the public key


Quantum Resistant Ledger TV

and if you hadn't transferred BTC from that address can you briefly dive into that one


Quantum Resistant Ledger TV

um it's a second last question I think that's a that's a good one um is that a great question


Quantum Resistant Ledger TV

this one that people kind of think about oh well maybe this is an option but so when Bitcoin was


Quantum Resistant Ledger TV

when Bitcoin was um you know first started getting used uh public keys were you you give them out


Quantum Resistant Ledger TV

you know you can give them up really you're supposed to only use one in a time in order to


Quantum Resistant Ledger TV

you know keep things more anonymous on the chain um and there's a couple other


Quantum Resistant Ledger TV

couple other reasons um but essentially the


Quantum Resistant Ledger TV

i don't always say the public key public keys are everywhere they're expuls when I submit a


Quantum Resistant Ledger TV

transaction and a public key on like you it's sent to clear text over the internet it gets processed


Quantum Resistant Ledger TV

by a node to no receive that node operator would receive that public key and then the public


Quantum Resistant Ledger TV

address that public address for that transaction that output is um sitting in the memo for that


Quantum Resistant Ledger TV

node so okay irrespective of whether or not the hash transaction actually gets written to the chain


Quantum Resistant Ledger TV

is irrelevant because public addresses exist everywhere um uh sattash means addresses although they're


Quantum Resistant Ledger TV

pretty well known those you know those are monitored. You can try them micro second on your


Quantum Resistant Ledger TV

by a by some enthusiast um so the fact that only it would only take a few addresses to get


Quantum Resistant Ledger TV

quantum compromise in order to undermine security you know undermine the confidence and security of


Quantum Resistant Ledger TV

the entire system so and you know and get back back to this this is all you know this is all


Quantum Resistant Ledger TV

and the assumption of a sufficiently powerful quantum here uh we have a ways to go yet to


Quantum Resistant Ledger TV

model the commercially available information out there um you know there there's still quite


Quantum Resistant Ledger TV

a bit of work that needs to be done there's systemic noise um there's the number of qubits


Quantum Resistant Ledger TV

need you know that that needs to be increased and the quality of those qubits there's but at


Quantum Resistant Ledger TV

the same time there's innovations that are being made up yeah and if you look at the progress that


Quantum Resistant Ledger TV

that's being made I mean it's pointing in one direct it's pointing in a direction that you know


Quantum Resistant Ledger TV

someday that someday this is going to be a more than it's going to be more than a speculative threat


Quantum Resistant Ledger TV

yeah to add on top of that with the progress being made and kind of the direction of where


Quantum Resistant Ledger TV

things are going um to kind of follow up I know in the last 20 seconds you kind of answered it


Quantum Resistant Ledger TV

in a few sentences of you know why it matters but if you were to come across somebody and they


Quantum Resistant Ledger TV

are to respond to you and say you know what I have a little bit of interest in it but quantum


Quantum Resistant Ledger TV

computing is so far away why should I bother to care right now um in at the end of 2020 in 2021


Quantum Resistant Ledger TV

why should I care now um as opposed to let's just wait five ten years see where it's at


Quantum Resistant Ledger TV

for the for things to move forward even further can you just dive a little bit further into


Quantum Resistant Ledger TV

um why having that outlook of that no bother at all um what would your response be be to that


Quantum Resistant Ledger TV

so here's my here's my thought on this I'm not about this what do we what do we really know about


Quantum Resistant Ledger TV

the progress being made yeah um we know about we know about um d-waves quantum manipulate we know


Quantum Resistant Ledger TV

about IBM and islands you we know about island travel quantum peers um here the stuff that we know


Quantum Resistant Ledger TV

isn't the stuff that you know these are a little bit of things it's the stuff that we don't know


Quantum Resistant Ledger TV

or is there's a lot of there's a lot of uh positive speculation about uh


Quantum Resistant Ledger TV

ultrasonic a lot of theaters you know running close to room temperature um but there's not a lot


Quantum Resistant Ledger TV

of information online a lot of that secret and so let me get let me ask you this with with what's


Quantum Resistant Ledger TV

at stake you know it which is essentially asymmetric encryption which runs 99.99% of blotchings


Quantum Resistant Ledger TV

which runs your credit card transaction encryption you know um uh get through H-E-T-P-S and KLS you


Quantum Resistant Ledger TV

are on a secure website you have a little uh at the top of your screen you have a lock saying


Quantum Resistant Ledger TV

that you're secure that's all negotiated through asymmetric encryption which is all based on


Quantum Resistant Ledger TV

the look to your fee which is all based on factorization which all ties and shores which all


Quantum Resistant Ledger TV

um could be broken by a sufficiently powerful quantum grid so it's not the stuff that I know


Quantum Resistant Ledger TV

that makes me think it's the stuff it's the what it's it's the iceberg analogy that it that


Quantum Resistant Ledger TV

I've given before we see this top of the iceberg but with what's at stake what's the market


Quantum Resistant Ledger TV

cap of crypto today 550 50 570 billion dollars what's at stake with um being able to be


Quantum Resistant Ledger TV

equipped asymmetric communications you know between countries uh be able to


Quantum Resistant Ledger TV

just buy another nation what's it's that and I'll say this on video if you're really consider


Quantum Resistant Ledger TV

the implications I would not put the degree of importance or the class the security classification of it


Quantum Resistant Ledger TV

past the Manhattan project but I would have probably say that they probably are


Quantum Resistant Ledger TV

terrible when you really consider what's at stake and how important information is


Quantum Resistant Ledger TV

paying the abilities view encrypted information yeah and especially as especially as the market


Quantum Resistant Ledger TV

cap and as the size continues getting uh bigger and bigger into the the size it is now but


Quantum Resistant Ledger TV

when it doubles it becomes even more uh precedent of like you know once it can maybe people start


Quantum Resistant Ledger TV

obviously there's been talk about okay well US dollars the world is at a currency but over time


Quantum Resistant Ledger TV

as more and more money is flooded into the industry it's like that that becomes even more of a


Quantum Resistant Ledger TV

pressing issue as kind of the unison of when quads and when it happens and versus you know


Quantum Resistant Ledger TV

actually how much is at stake um from a financial perspective um for not only you know people but


Quantum Resistant Ledger TV

um institutions governments also all sorts of stuff that's so that we don't get I don't see anything


Quantum Resistant Ledger TV

online with governmental progress you know and us a other nations uh other nation um progress


Quantum Resistant Ledger TV

from from you know from the government sector I see nothing I see the commercial sector which you


Quantum Resistant Ledger TV

know or you know they have to please their stockholders hey we're making progress we're charging


Quantum Resistant Ledger TV

you know honey well we're charging ten thousand dollars an hour for you know quantum computing


Quantum Resistant Ledger TV

stockholders happy information so that's what we see what we don't see that's what makes me wonder


Quantum Resistant Ledger TV

yeah thanks for diving into that um and these are kind of just a few questions we're gonna


Quantum Resistant Ledger TV

have a few more coming up as we go into the end of uh you know this month and also going to be


Quantum Resistant Ledger TV

diving into enclave we have a lot of exciting stuff around uh with Zond in the mood of proof of


Quantum Resistant Ledger TV

stake here at the Q&A Foundation but what I want to ask of you the viewer um if you have other


Quantum Resistant Ledger TV

questions that are tied to this of maybe there's an angle that we haven't dove into strike as


Quantum Resistant Ledger TV

an answer done yet what type of questions do you have that we maybe haven't covered here whether


Quantum Resistant Ledger TV

you're in the telegram group discord group any other platforms and that uh you're involved in


Quantum Resistant Ledger TV

CS within for our community definitely ask us even below this YouTube video if you have a question


Quantum Resistant Ledger TV

feel free to ask us what questions you have because in upcoming videos we really want to try to


Quantum Resistant Ledger TV

dive in and answer those for you so that it's uh we're both diving into questions that we maybe


Quantum Resistant Ledger TV

haven't thought about before or we're just building on the ones that we've already covered but


Quantum Resistant Ledger TV

uh straight thanks for thanks again for uh diving on this call this morning yeah thank you guys so


Quantum Resistant Ledger TV

much to everyone watching we will see you in the next video there's a lot of exciting news at the


Quantum Resistant Ledger TV

Q&A Foundation is coming up have a great rest of the day and we will see you soon see you


Quantum Resistant Ledger TV

see you


Quantum Resistant Ledger TV

what is up everybody and welcome back to another episode of the quantum resistant


Quantum Resistant Ledger TV

ledger channel your video points the world of post quantum digital asset security I am here


Quantum Resistant Ledger TV

with strike I am Ryan the co-host here today I'm the director of advocacy at the QRL strike on


Quantum Resistant Ledger TV

this side of me over here is our director of outreach today get really close to the end of


Quantum Resistant Ledger TV

year so with that being said today's episode is all about quantum predictions as we head into


Quantum Resistant Ledger TV

the new year and beyond not only are we going to cover the quantum predictions coming up


Quantum Resistant Ledger TV

we're also going to be discussing some of the recent news and surrounding quantum supremacy


Quantum Resistant Ledger TV

we're going to be talking a little bit of a Bitcoin and make sure you stay around to the end


Quantum Resistant Ledger TV

we're going to be doing a little quantum contest for the holidays


Quantum Resistant Ledger TV

awesome well first off so just to cover an outline so when you're watching at home you kind of know


Quantum Resistant Ledger TV

where we're kind of starting out with and we're going to dive into don't grill me too hard though


Quantum Resistant Ledger TV

okay yeah before we dive into quantum predictions and supremacy with it being very top of


Quantum Resistant Ledger TV

mind for a lot of people right now I would love to just dive in briefly for a few minutes as an


Quantum Resistant Ledger TV

opener I'd love to dive into Bitcoin for a little bit with it last week I think BTC heading in


Quantum Resistant Ledger TV

all time high market cap today is somewhere probably when you're watching this it might have


Quantum Resistant Ledger TV

fluctuated a little bit it's around 436 billion and I just want to know strike what are your


Quantum Resistant Ledger TV

thoughts in the current state of where Bitcoin is headed in 2021 what are your thoughts on it


Quantum Resistant Ledger TV

how do you think this affects the overall industry as a whole and yeah I just want to kind of hear


Quantum Resistant Ledger TV

your thoughts on this go back and forth briefly on this yeah sure so it's hard to it's hard to be


Quantum Resistant Ledger TV

on any crypto project nowadays and not talk about Bitcoin in a lot of ways Bitcoin is the crypto


Quantum Resistant Ledger TV

world reserve currency right it's the it's the tide in a lot of ways that keeps buoyancy to all


Quantum Resistant Ledger TV

the other ships so and if you're talking about Bitcoin especially this month it's almost impossible


Quantum Resistant Ledger TV

not to talk about the price so I'm going to pre-fix with the standard none of this is financial


Quantum Resistant Ledger TV

advice is my opinions but let's do this so okay a lot of us probably remember the bull run


Quantum Resistant Ledger TV

from 2017 I mean if you're following crypto Twitter there's a lot of evidence right now that much


Quantum Resistant Ledger TV

of this 2020 price movement is coming from institutional buying and for from people looking for


Quantum Resistant Ledger TV

hedges hedges against you know unprecedented currency debasement stimulus package you know all of


Quantum Resistant Ledger TV

these things are things that provide buoyancy to cryptocurrencies as hedges and we know this because


Quantum Resistant Ledger TV

some of them are going public you know there some of the companies are going public they're


Quantum Resistant Ledger TV

replacing some of their corporate reserve currencies on hand cashed with Bitcoin in fact just


Quantum Resistant Ledger TV

yesterday Michael Saylor who leads the investment firm micro strategy and he's been purchasing


Quantum Resistant Ledger TV

hundreds of million dollars in Bitcoin of course you only ever find out after the fact that he


Quantum Resistant Ledger TV

had purchased he recommended Elon Musk yesterday that he do the same thing on Twitter to which


Quantum Resistant Ledger TV

Elon excuse me to which Elon asked you know is this is possible you know presumably asking whether


Quantum Resistant Ledger TV

not there was enough liquidity in the space in order to you know make make those sizes of purchases


Quantum Resistant Ledger TV

without you know being the market maker yourself and driving the price up come in and essentially


Quantum Resistant Ledger TV

driving the price up since you're buying so much and increasing the cost of your own Bitcoin so


Quantum Resistant Ledger TV

uh mr. Saylor mike offered to show him his playbook so I mean you're seeing more institutional


Quantum Resistant Ledger TV

interest and this is a good thing it doesn't feel like 2017 to me to me that was a lot of


Quantum Resistant Ledger TV

retail buying a lot of FOMO this feels fundamentally different all the talk of tulip bulbs you know


Quantum Resistant Ledger TV

has stopped as we know as we know tulip bulbs never recovered but there are still a lot of


Quantum Resistant Ledger TV

diehard precious metal bugs the most of which you know the most one of the most well known


Quantum Resistant Ledger TV

is probably going to be Peter Schiff he's probably one of the most outspoken anti-Bitcoin voices


Quantum Resistant Ledger TV

in Twitter um you know well known for a lot of years now he's a he's an eternal pessimist as far as


Quantum Resistant Ledger TV

the the state of the economy um I followed him for I followed him for many years um he's anti-Bitcoin


Quantum Resistant Ledger TV

for sure but I think what actually happens is he does own Bitcoin his son Spencer Schiff is a strong


Quantum Resistant Ledger TV

verbal supporter of Bitcoin and with the banter between Peter and a son back and forth on Bitcoin and


Quantum Resistant Ledger TV

this is all over Twitter you know memes galore um Bitcoin uh it makes up I don't know like 70 to


Quantum Resistant Ledger TV

80% of his feed um if you want to think about Bitcoin you go on to anti-Bitcoin's you know


Quantum Resistant Ledger TV

bitcoins worst enemy uh so my suspicion is that even he does own Bitcoin and he's using that as the


Quantum Resistant Ledger TV

springboard in order to remain relevant uh yeah and another point to add on top of that as far as


Quantum Resistant Ledger TV

your comments on you know debasement and things of that nature it's like it's kind of a perfect


Quantum Resistant Ledger TV

storm and a sense as well if like even if you just you know go and look at the most recent you know


Quantum Resistant Ledger TV

M2 with the money supply if you look at how much fiat money has been getting put into the system


Quantum Resistant Ledger TV

and you think of the long-term effects that is going to be played downstream um it kind of that adds


Quantum Resistant Ledger TV

to it as well as far as um you know how how the climate might look a few years from now so it's like


Quantum Resistant Ledger TV

and and to add to another part where you're just mentioning you know with sailor or more institutional


Quantum Resistant Ledger TV

money that's going to be going into it another part that's really important to mention is if you


Quantum Resistant Ledger TV

think about Bitcoin as an asset class once it starts getting higher and higher market capitalized


Quantum Resistant Ledger TV

a lot of these bigger you know whether it's you know pension funds if it's sovereign wealth funds


Quantum Resistant Ledger TV

over time it's going to become a much more attractive to them because when they're pouring in


Quantum Resistant Ledger TV

hundreds of millions of dollars it's going to be a lot easier for them to be able to make that decision


Quantum Resistant Ledger TV

on behalf of you know their LPs and putting that money into Bitcoin as an actual you know serious


Quantum Resistant Ledger TV

move where they think that it can actually um offer value down the road is a store of value and not just


Quantum Resistant Ledger TV

just only a hedge so that's a really important part to mention as well that's a good point let me


Quantum Resistant Ledger TV

let me let me add a couple things into that because I like wearing women so back in 2017 there was


Quantum Resistant Ledger TV

all this for right we a lot of we hit 19,000 close to 20,000 highs right um Bitcoin was all over the news


Quantum Resistant Ledger TV

it was all over Google in fact what I'll do is if you look at Bitcoin's search if you look under


Quantum Resistant Ledger TV

the trends of Bitcoin of Google to see where Bitcoin is on the search patterns it's just a little


Quantum Resistant Ledger TV

bump whereas 2017 is all the way up here this just recently took a little bit right all time highs


Quantum Resistant Ledger TV

you know approaching 24,000 25,000 you know cryptocurrency and if you look around there's nothing on


Quantum Resistant Ledger TV

mainstream news anywhere um the it's still it still feels very very like it hasn't like it's still


Quantum Resistant Ledger TV

under the radar it hasn't which is incredible to me um so for the I have the Google Edge search chart


Quantum Resistant Ledger TV

maybe future Ryan can just overlay it like right up here somewhere um but it shows the uh the interest


Quantum Resistant Ledger TV

based on Google searches and I use that I use that as kind of a metric uh to gauge you know how


Quantum Resistant Ledger TV

interested people are in different things um so do I my opinion so going higher yeah I think it's


Quantum Resistant Ledger TV

going I think Bitcoin's going higher which also improves the use case uh for QRL as a hedge


Quantum Resistant Ledger TV

you know against Y2K on a threat um if you look at two of the most bullish models for Bitcoin


Quantum Resistant Ledger TV

which are two of the most exciting um you've got plan B stock the flow model which puts Bitcoin at


Quantum Resistant Ledger TV

100K by the end of 2021 and you have a he's he's pseudo he's pseudo anonymous but he's pretty


Quantum Resistant Ledger TV

well known on Twitter um and you also have a city bank analyst when public with putting uh


Quantum Resistant Ledger TV

Bitcoin potentially at 300K USD USD by the end of December 2021 now granted these are very optimistic


Quantum Resistant Ledger TV

so I think that they'll reach these levels I don't know but this is crypto anything can happen um


Quantum Resistant Ledger TV

Bitcoin going up yeah Bitcoin's going up um it's shown resiliency against being a bubble in


Quantum Resistant Ledger TV

unprecedented in still and unprecedented institial players and now using third parties like coin


Quantum Resistant Ledger TV

base in order to accumulate under the radar they're not just buying on the open market they have to


Quantum Resistant Ledger TV

be smart about this throw in the fed to your point is essentially um uh with the currency


Quantum Resistant Ledger TV

debasement and essentially socializing the private sector through open market purchases um you


Quantum Resistant Ledger TV

know this is the amount of stimulus and currency is unprecedented in human history um within


Quantum Resistant Ledger TV

you know now we have the what was it 900 billion uh stimulus package coming out um


Quantum Resistant Ledger TV

the nine all today yes today all of these provide buoyancy for the use case for crypto and uh


Quantum Resistant Ledger TV

Bitcoin in general yeah no and I think that that's kind of a perfect segue into our next topic which


Quantum Resistant Ledger TV

is uh talking about uh quantum supremacy I know that we're going to be diving into some


Quantum Resistant Ledger TV

predictions and go a little bit more in depth there but when it comes to quantum supremacy


Quantum Resistant Ledger TV

probably most of us and if you haven't heard the news yet we'll be filling in on this as kind of


Quantum Resistant Ledger TV

uh you know macro overview of what occurred China recently a few weeks ago earlier in December


Quantum Resistant Ledger TV

has stated that you know they have quantum supremacy and so what I want to ask you strike is


Quantum Resistant Ledger TV

with their case of what happened a few weeks ago is this a one task type simulation or is this


Quantum Resistant Ledger TV

something that is a bigger step that we should really take notice of so is it you know one task


Quantum Resistant Ledger TV

type simulation or is it a bit more hey this is something that actually could be programmable


Quantum Resistant Ledger TV

um so I want to get your take on more of a technical level of you know is it more serious or is it


Quantum Resistant Ledger TV

like okay I can just kind of do one thing it's not anywhere near real life application yet


Quantum Resistant Ledger TV

yeah so China's announcement was there's a little unexpected and it was also interesting


Quantum Resistant Ledger TV

I think they actually use the term quantum advantage over quantum supremacy this time it could be


Quantum Resistant Ledger TV

mistaken uh but they uh they put together what's you know it's an optical of boson sampling


Quantum Resistant Ledger TV

quantum computer and I think this is good news for the industry mostly in that shows it shows


Quantum Resistant Ledger TV

continued innovation in the field right um no one's saying that this machine is going to you know


Quantum Resistant Ledger TV

break break the internet or break encryption or still from the federal reserve you anything like


Quantum Resistant Ledger TV

that um but I'm gonna call it I'm gonna call it they were able to perform a function that might


Quantum Resistant Ledger TV

be that might have practical applications uh in the future of solving some sort of solving some


Quantum Resistant Ledger TV

problems um that would that would that are essentially impossible for classical computers to do but


Quantum Resistant Ledger TV

it's it is a very specialized use case what they did do with for boson sampling um it's not


Quantum Resistant Ledger TV

a template for a a universal quantum computer which you know as we know is the holy grail I suppose


Quantum Resistant Ledger TV

computing um and it's just you know history repeats itself researchers and IBM and a few others


Quantum Resistant Ledger TV

came out with contrary narratives and uh different sides to the same story you know as to what


Quantum Resistant Ledger TV

China but China had done so there's you know there's a lot of there's still a lot of controversy


Quantum Resistant Ledger TV

the amount of existence in the field and I think that it will stay that way um but uh


Quantum Resistant Ledger TV

uh that means that what would a powerful takeaway is that we are getting better and better at the


Quantum Resistant Ledger TV

manipulation of single photons particles of light um which are which which are very good stepping


Quantum Resistant Ledger TV

stones for future advancements in quantum computing not just for quantum secure communications


Quantum Resistant Ledger TV

but also for different flavors of optical quantum computing so these these are to me these feel like


Quantum Resistant Ledger TV

organic stepping stones all right um so far ion trap machines seem to be the most universally


Quantum Resistant Ledger TV

accepted machine um but there's also other types you know that are that are on the radar um but


Quantum Resistant Ledger TV

I so far I think ionic ionic traps are the most well-known popular and promising and other


Quantum Resistant Ledger TV

flavors of photonic quantum computers are under the radar in a bit less known because there's very


Quantum Resistant Ledger TV

little information about them uh but as all things time will tell no I appreciate it um kind of


Quantum Resistant Ledger TV

diving into the second part of this and I want to kind of break it up into I'm just thinking about


Quantum Resistant Ledger TV

this I want to break it up to in a few sections uh because I think we can kind of get a better


Quantum Resistant Ledger TV

answer that's a little bit more clear so we'll break it up into we'll talk about funding um what


Quantum Resistant Ledger TV

quantum um you know volume is and then talk a little bit about some resources for people to kind


Quantum Resistant Ledger TV

of go further down the rabbit holes so I want to start out with funding so there's a lot of money


Quantum Resistant Ledger TV

getting put into the space around quantum computing people trying to solve the problem getting ahead


Quantum Resistant Ledger TV

um what I want to ask is where do you see over the next 18 or 12 to 18 months where do you see


Quantum Resistant Ledger TV

a prediction wise where do you see a lot of money entering the space in your opinion


Quantum Resistant Ledger TV

Sure uh in my opinion I think we'll continue to see more corporate capital more government funding


Quantum Resistant Ledger TV

companies are starting to look for specific use cases in which quantum computers could give them a


Quantum Resistant Ledger TV

you know strategic advantage um you know as the number of qubits grows the air rates from systemic


Quantum Resistant Ledger TV

systemic noise start to drop better algorithms are developed you know possibly even through the use


Quantum Resistant Ledger TV

of AI I think that's a tremendous opportunity for the future AI teaching quantum computers how to


Quantum Resistant Ledger TV

solve certain problems I mean this is this is a real this is a really exciting field and I think


Quantum Resistant Ledger TV

that I think that that specifically is inevitable but manufacturing processes that improve their


Quantum Resistant Ledger TV

you know improving that quality I think all of these are coming together to show uh continued


Quantum Resistant Ledger TV

progress and it's going to um you know it's going to allow other investors and more and more


Quantum Resistant Ledger TV

investors to become involved in the field right now it's still you know there's right now there's


Quantum Resistant Ledger TV

still a lot of speculation a lot of confusion we don't have a universal quantum computer yet


Quantum Resistant Ledger TV

um I think thermal dynamics and dilution refrigeration I think those are pretty close to as good


Quantum Resistant Ledger TV

as they're going to get so the noise the systemic noise problems would have to be solved


Quantum Resistant Ledger TV

uh some other way but I honestly believe that they'll get past these um so I don't think there's


Quantum Resistant Ledger TV

any more innovation in that area but um uh government you know government's venture capitalists


Quantum Resistant Ledger TV

uh you know private money I think that that's only going to increase from here uh in January


Quantum Resistant Ledger TV

the US for example the in January the US Department of Energy announced the national quantum


Quantum Resistant Ledger TV

initiative which um put 625 million dollars of funds over the next five years to establish


Quantum Resistant Ledger TV

uh I think they said two to five multi-disignate multi-disignate plenary quantum information


Quantum Resistant Ledger TV

science research centers I'm not going to see that again other you know other countries


Quantum Resistant Ledger TV

corporations and venture capitalists are doing the same so uh everywhere yeah


Quantum Resistant Ledger TV

that's very it was kind of a broad question I just kind of wanted to see where you were thinking


Quantum Resistant Ledger TV

kind of uh you know lane wise where it would be or whether it's you know several lanes but


Quantum Resistant Ledger TV

moving on from that one let's talk about QD or um you know quantum volume so essentially I know


Quantum Resistant Ledger TV

you know the main components uh number of qubits error array connectivity of qubits


Quantum Resistant Ledger TV

can you dive in and explain much better than I just did of what is QV and if we had to break it


Quantum Resistant Ledger TV

down for someone that maybe um is either either muting hearing about it or maybe even someone that


Quantum Resistant Ledger TV

has a little bit more of an understanding uh what's QV strike yeah so if you're if you're new to


Quantum Resistant Ledger TV

QV uh QV is IBM's way of measuring the performance of a quantum processor um back in the day you


Quantum Resistant Ledger TV

know we had um 100 megahertz 200 megahertz three-color dating myself


QRL Ask Me Anything #1 Hosted by Michael Strike - E10

Welcome YouTubers and cryptocurrency enthusiasts Michael Strike and welcome back to


the official Quantum Resisted Ledger channel your video portal in the post-quantum


digital asset security. So today we have a very special episode you've been


asking for it we're gonna bring it today is the Ask Me Anything interview with


Dr. Peter Waterland who is the creator of the Quantum Resistant Ledger project.


So I'm really looking forward to this I know you guys are so let's skip through


the intros and let's get on the phone and let's get started.


Welcome back everyone to the Quantum Resistant Ledger July 2020 Ask Me Anything on the


phone we have Dr. Peter Waterland. Hello Peter can you hear me? I can. Hi


I'm Michael. Yeah. How are you doing? I'm very well thinking. I've been looking forward to


this for a while. As of I. So as you know since we have the first day in many


communities been asking for another one. With that in mind we've compiled a list of


questions from the public off of different social media platforms but before


we get started for those who aren't familiar with the Quantum Resistant Ledger


project. Our project is the first cryptocurrency ecosystem to be quantum


computer resistant open source enterprise grade, duly externally audited and


XMSSS and IST draft recommended. I think it would be interesting to know how


this project started. Can you tell us a little bit about what was going through


your head how you connected the dots? Yeah. Sure Michael. Well I mean it's some I've


been in the Bitcoin space since 2012. That's that's quite a long time ago now.


I also have all that I have a medical background. I've always been


interested in good science and I'm going interested with the programming and coding.


When you first come to Bitcoin it's such an unusual thing. I was you know all


struck by it at first and I'm sure you've encountered this but it's hard to


understand at first but once you get your head around it you realize it's an


elegant system. Just in my own reading and learning I just I just happen to


come across some some articles about quantum computer and I became aware


that stage that elliptical cryptography which powers Bitcoin you know is


vulnerable to that and it just made me think a little bit about it and then I


started reading about the different signature schemes available just as


out of interest really to see if I could work through it in my own mind and


and and eventually realized that the most likely candidate for a post-quantum


signature I could actually understand and that I don't exactly write a library


for that and then sort of following on from that I realized that I couldn't


therefore as an experiment creates a whole new blockchain I only picked a


currency that was post-quantum secure using these hash-based signatures which


give quantum resistance and that's where it started. It's computer science


experiment and then it sort of grew from there and then in the community I was


writing on a list of essays someone said why don't you write a white paper and


so I did that and then it just gradually the project is just sort of snowball


from there so every humble origin is actually as growth grew over the years


so not sure that answers your question. One question I did have is you said that


the started as kind of an idea or as a science project at which point did you


realize that this was going into a full project at which point did it really


become real in your head? I think quite early on because the great power of


open source software development is it's not just you start off on your own


writing code uploading it to GitHub and and then other people can see what you're


doing they can join so I mean this is the great power of internet is it although


it started with me many other people joined the project very early on a few


that people are still with the project now it became a group effort and if you


look at if you look at the GitHub GitHub repository thousands of commitments lots


of different people not just ever just been about one person it's a group effort


and it's also effort when I saw other people were contributing to the project


that's when I realized it was starting to get the steam. The excitement in the


project surprised you at the time when you had you had this idea in your head and


you had published it out there and it started to assume critical mass if you will on


its own was that surprising or was that organic to you? I mean definitely


who's surprising yeah it was surprising from the time I finished the initial


sort of announcement thread it was clear that people were interested in the idea


and I think that the central point that all the high value blockchain networks


currently are vulnerable to a black swan event or not strictly a black swan but


of a vulnerable to the emergence of the quantum abuser which can break the


cryptography that is something which remains today so even after three years


even after the creation and growth of our projects that vulnerability that


critical vulnerability remains is important I think there's a lot of


that sort of algorithm a lot of tribalism in the critical and


disbases it to not see flaws in products that you support which I think is


a dangerous situation potentially and that's sort of that was one of the reasons


why I made the curl in 2016 those are really good points I sometimes


chock a little bit when I hear even internally within the team we use the


words black swan or we might say force major something like that these are


events that could not be foreseen events that are unexpected but at the same


time you've been planning for this for years and you know in our


discord community you know we're all involved in this project that's really


interesting to me I've had one other question for you and that will jump to


the community questions I think there's a really exciting aspect of


organic growth to this project which is why personally became involved in the


first place just the progress we made in the field of quantum and crypto just


seems to be accelerating and undeniable both technologies have


increasing adoption and it feels very much like that should provide a lot of


natural positive buoyancy to the project as we move forward would you agree


with that do you have anything to add


I mean so there's two aspects out there one every day


that quantum could be to development goes on and it's been developed in lots of


lots of startups a lot of funding in that space currently every day we go


for when we're getting a day closer you know to that mythical


creature being developed at the same time crypto you know the space when I


first entered the Bitcoin space the market cap was tiny and you know


only wish I've bought more but um but it is now you know hundreds of


billions of dollars of value and I would expect it to only go


go hire over the coming years so the risk therefore is rising all the time


in my mind so I totally agree with you on that one I think I think


I mean you said natural buoyancy I think that's correct what's interesting is


that we are as you know our project isn't just a separate blockchain


we are trying to help people secure their they're existing crypto assets


with our enclave project which I know we're going to talk about a bit later


but we are trying to add a bit of quantum security to existing


crypto assets and to Ethereum itself with our site project enclave


and so I'm looking forward to talking about that a bit more with you a bit later


I think it's one of these issues where the quantum threat is ever


going to become more and more pressing this time as time much as food


does feel a little bit like you're accelerating towards a point of no return


or a wall or something like that if you're ready let's jump to a few community


questions does that sound good?


Okay so first one of the first questions we had is regarding


QRL and proof of stake. Is there a minimum? Will there be numbers?


I think this question is asking about minimum staking requirements


how it compares to what Ethereum has planned for 2.0 but go ahead.


Yeah I mean it's a really good question.


At the moment the QRL is a network where consensus is maintained by proof of work


essentially meaning mining nodes minus mine the coin and that's how we


decide how we decide the stupid consensus that's how every node on the network


knows what the blockchain is and how it's all ordered and where the


transactions are and where the balance lies in the ledger


and that's exactly how Bitcoin works and that's exactly how a lot of


proof of work change function. Now that's great because it's a known quantity


we know works it's in battle test to do through a decade


and although there are weaknesses to it you know 50 or


percent of tax etc. It's a known quantity a lot of projects


have begun to emerge using some of the proof of stake and that's a consensus


algorithm you achieve distributed consensus based on random selection


and generally wealth of participating nodes or validators


whether we're stake control. So the QRL currently is just proof of work we are


hoping to move as soon as it's safe to proof of state and our algorithm


which we hope actually to have on sort of death net this month hopefully


there's quite a few different ways to go but we


because with the QRL we have to choose an algorithm which is


quantum particular so it can't come vulnerable and it can't


add some limitations to our protocol which are a bit annoying but and have


delay this a little bit and now moving on moving on to your question


thinking you mentioned minimum sneaking requirements and numbers


so our protocol has validators record so


and to be a validator you need to have we have it's not


set in stone yet but it's either going to be 5,000 or 10,000 QRL


so if you if you haven't addressed it has


20,000 QRL then you will either be able to have four validators


from an address or two validators from that address


so for our current emission we'll be that there will be


to protect 10,000 QRL a validator there will be


approximately 7,100 validators available for everyone to choose to


state their comments so our protocol locks your coins


for a period called an e-pop during that time you can't move your coins


after that you're freely able to move them. I said minimum is either 5,000 or 10,000


we'll hammer that one out following the discussion with the


two reaches we go forward it's a bit more previous protocol because all


the people that was know minimum staking but we've decided


what consensus and for our randomization protocol that the best way is actually


to use a fixed statement requirement so I'd say 5,000 or 10,000.


Sounds like the it sounds like the protocol itself is


moved forward quite a bit more so than expect.


So we're using the motion it's difficult to explain it


through the state protocol in AMA but we're we're publishing


a draft protocol and then we'll publish a final protocol in the coming weeks


but essentially we expect our protocol to have


thousands of validators and we use we use random sampling


to choose a leader who is who is a block proposal and block


means of reach for each block cycle and then there's random sampling to


decide block attesters who are at a state the content of the block and


verify it to be true. In some ways it's similar to


Ethereum our protocol it doesn't strictly allow delegation but you


are but we will make it such that you can delegate control


to a third party service that third party service will have to do


that to do the work for you but it will be possible to delegate that way


we're not a delegated proof of state protocol we're a proper proof of state


protocol so it will be possible to delegate to a third party we're


perfectable to run their own node. We can come onto that.


Second question I have is I understand proof of state devnet will be up


again soon. We'll stay keen by raspberry pi in this


presumably means any type of raspberry pi or Adam PC will that be available


I think what it actually means is the AES NI instruction set


which the raspberry pi does not support which may or may not be able to be


software emulated on the raspberry pi I've heard rumors of that


I haven't actually seen it work but will we be able to


stake using that type of hardware in the future after proof of


state is implemented? So I think it will


compare to whether we maintain backwards capacity as he stands


no is the short answer that said the hardware


hardware requirements are low in the current protocol so it's more important


that your node is online than being a kind of high powered


but I think most of the most hardware will easily be able to run easy


but to run this so you might remember we have we have slave trees in our


in our existing curl proof of work protocol which allows you to


delegate signatures without without using your main


XMSS tree which is linked to your curl address so in a similar fashion


you'll be able to delegate signing rights from a slave


they can delegate a state for you but they might be able to move your fund


start your nuanced but it also allows pretty much safe


online staking for someone running a node in the cloud so


you say you're around no in a native US and one in access to your


installation even with that information even with full reach access to that


they would not be able to move your points which is fairly powerful I think


I think so as well I think the ability to delegate not have to run a node in


order to do a stake is going to be crucial for adoption of


staking in general for any of the listeners out there that aren't as


familiar with proof of stake or delegation or staking


what this essentially means is uh with in proof of stake


your quanta or your curl can be locked up essentially


immobilized in while it's immobilized it gaining interest


if you will the next question I have is curious what kind of TPS


you expect from the first iteration I think TPS means transactions per second


must do so I think um if you if you if you look at a lot of projects


you have sort of at least a quick sheet of amazing achievements that


greater can manage one of the ones that's highest up on the list is how


scalable um how many transactions per second uh their network can deliver


and still function that is it's interesting because I mean Bitcoin obviously


has a very very low transactions per second


and the theory of this slightly slightly better but still very poor


certainly less than less than 20 from transactions per second so


in yet there are other projects claiming they can they can manage thousands


and thousands of transactions per second essentially it comes down to


how centralized the protocol is how centralized the nodes are


what their network connectivity is and how much


computational power they have between them anyone can make a network


within incredibly high transaction per second ability


but whether that's actually going to be something useful or functional


through distributed network is a different matter


so um we we would expect we haven't been any firm hard figures for you


I did have a chat with Councillor Burdus who was for the moment we were able to


get you know at least 100 transactions per second


through that it shouldn't theoretically be a lot faster than that


so I think it's a bit of a meaningless statistic but we will


we will run to do some testing in the cloud and we will come back to the


figures make sure they certainly know worse than proof of work and I would


I would guess it would be significantly better actually


so that's not going on a great answer to that one


well I think the transaction per second there's multiple schools of


thought right as the technology is the technology matures


you know you can increase transactions per second but I think at the same time


there's an argument that your decrease in security


you know if you're completing no transaction faster


there's less resources in order to validate the two seem negatively correlated


well yeah let me know because if you think about it if you


you know if you got paypal and you got some centralized


level of course you can have an incredibly high


transaction per second rate but as you start spreading across a network


across a globe you know it's inevitably becoming inefficient


I think the point is for the vast majority of blockchains


scalability is not is not an issue at present but but but certainly proof of


stake things like sharding they do allow much greater


scalability than exist at present and our protocol


is being designed to be potentially adjustable as sharding if it


is required so that's something that could be built to do built in at present


you know it should be absolutely fine


even in the very first iteration I remember we already seen


in the next few weeks yeah I think just add one more thought into


what you're seeing I think Ethereum 2.0 their bringing sharding


to scale right and I think the outcome of that result


will possibly have advantages to this project and don't end up blockchain as a whole


yeah exactly so I think if you look at theory


we're a lot of the mind share and development is located


it's a difficult problem and it takes time to do it properly


and you know it's been a theory we're supposed to be launched as a POS


chain it's still good for work now in 2020 so


so we'll see and that's a fair point I mean people that sometimes in other


projects and in blockchain as a general the


we will the theory in for example you know 2.0's been pushed back to multiple


times we're not making a new version of the wheel the wheel doesn't


exist yet right there is no book on best practices those are being


developed everyone's competing for what they think is the best practice


but the next question when people are sticking do they need their own


node think you answered that as well with delegation


we've got to do that one I mean I say the hardware requirements are


low for a node that is stating that has active validators on it we've actually


got a quite healthy network at the moment we prefer more people to stay


however it is not entirely necessary as they we are building in the


ability to delegate a mission mistake without risk of losing your own


coins you don't need to have an have a node but we were


profers of one one so I think they'll lead in the next question


describe the POS upcoming voting system structure


we have we have two methods for leadership election


pretty much all previous state algorithms have have a period of a number of


blogs called the new OCC which could be which in


it the theory of state to but in you know it curl will be more


let's say there's a hundred blocks in rock for each block you need someone to


propose a block you need someone to you need some validators to


who have stake to verify that block has been valid and we call that process


attestation and then you need you need someone to mint a block


and sign sign it and then it goes into the chain and the


press will need some way of knowing who's doing what for each block


for the whole in rock if you think about it that process should be random


or at least it should be pseudo random in a manner which can't be


which is unpredictable by participants by the validators on the network


it's quite a difficult problem creating unpredictable


pseudo randomness or creating uniform randomness is difficult


we actually have two parts to our protocol and we haven't decided which we're


going to go yet but we're going to see what the hardware requirements are


to to do it so we've got one arm where we're using what's called that there's


this concept of something called a verifiable delay function


is where you have to do sequential iterative computation


which takes work and takes time and then there's a shortcut


answer to prove the done the computation so the idea will be that you


ask that you take some entropy save from a block hash


or from several previously randomly selected validators who


who give a random number each you combine those numbers and you put


and you either put the block hash and put those combined numbers


into this verifiable delay function and then it takes time for that


function to run and because it takes time


there's no way that anyone who put the numbers in


can manipulate the outcome and therefore you know it's effectively


unpredictable and random now the drawback is that there are no really very good


verifiable delay function is that it exists and it's always possible that


they could break in the future and of course it's possible to


using special hardware potentially to to accelerate the


computation time down considerably and still try and cheat


so we haven't strictly used a VDF what we have


what we're trialing at moment is just a delay function where we use


iH to hashing and then we distribute the verification process across


across our validator pool so for example it might take


10 or 20 000 30 minutes for several randomly selected nodes to


perform a delay function with nodes would post their results


into the chain and and then the work is then checked


by random groups we call committees of the validators across


across the validator pool to make sure that the computation has been


performed correctly so if you say you have a 30 minute


or 20 minute calculation it might it might take 20 30 minutes for one or


for several nodes to run through that computation and it would take


a few seconds for the rest of the nodes to verify


that's one way we we're currently looking out the second ways


is a similar version to the round-down concept by Ethereum


which you can go ahead and read about and it's fairly straightforward


we're basically building both of those into a post column we'll


decide after a bit of testing which way to go


in essence we have random selection by Earth from


random or from a delay function and then that


output is used for the e-poc to decide the leaders who will


block propose and mint and random attesters who will verify the blocks


that's the basic construct I think that VDF question is really interesting


just even conceptually kind of goes back to the root of consensus


if you think about once the task he was putting together a bit


coin in the first place how do you get a large group of


disparate untrusted parties to agree on something and in this case


it's a source of entropy would you say that's accurate


I mean the key point with all the algorithms is you either have


as close to random input to decide who's doing what each block and


throughout the e-poc are you who's creating the blocks who's


verifying them if that if I just random and you and you've got


some good probability maths behind your random sampling it's very secure


so how you how you go about getting that randomness is


is a big question so there's a lot of different ways to do it as we


discuss you can use commit reveal schemes we ask people to


put a hash of your random number in and then then the worry is that


a large person who puts the number in is cheating it's going to cheat


we call that last act of manipulation you know all you can try and use


something novel like a delay function or a verify of delay function


yes there's lots of different ways to go it's going to be a problem that's


going to I think not be solved anytime soon


in progress I'm getting everything to agree on the same random number I


can't even in my wife and I can't even agree on what movie to watch tonight


for example so the the problem is considerable


I mean it's really exciting work in something called BLS signatures


which allow you to aggregate signatures and to do things


everything's like threshold and photography but unfortunately those


those signatures are not corresponding secure so quite a


feeling building blocks of some of the new projects which are now then to


add a bit of scale very easily we can't add an effect to use things like a


random beacon I can't take that into our project because it's not


not post-conment secure so we're a bit hamstrone but we've got


I think we've got a very strong approach for a lot of moments so I think


it could be any more listening we'll be very excited to hopefully


to bring down it comes out very soon


The World's 1st Steampunk Quantum Computer Resistant Blockchain Node

In today's episode, we're going to show you how to upgrade your QRL node and in


celebration of a main net 3.0. We've built a really cool custom node and we're


going to do the walkthrough and show you how we built it from start to finish.


So make sure you stay tuned for this exciting episode and let's dive in.


Hey everyone, welcome back to another episode of the QRL show, the place where you come for the crypto and stay for the quantum. In today's episode we have an exciting one for you. We're going to cover two main parts within this episode.


First is we're going to upgrade your node, cover a few basic questions about upgrading your QRL node.


And we'll also show you how to do that with the instructions. And the second main part of this video is in celebration of main net 3.0.


Michael Strike is going to, he's built an awesome custom node case. And so after we go through the node upgrade, he's going to do a full walkthrough on this from start to finish to give you your own


inspiration to spark maybe building your own node on your side. But with me to have his conversation is our director about reach at the QRL. Michael Strike, it's good to have you with me.


Hey, really your face. Hey everyone, greetings community. Yeah. Well, for before we go into the main part of, you know, going through and taking a look at the case that you've built. Actually, why don't I just I'll quickly show on stream for three or four seconds. This is the final product of the steam punk in case that Michael's built.


Coming back to the episode, the first party episode, we're going to cover the upgrade of the node. Michael, I want to ask a few basic questions on the upgrading of the node, just as kind of a refresher.


And then from this we can lead into the, you know, for how people how to do that. So my first question to you is, why should I upgrade my node? If I'm someone viewing this, what's the, you know, the importance of it. What's the, the reason behind it. So that's the first question on upgrading of the node. Why should I do it?


All right. So there's essentially two types. There's too many types of forks, right. You have soft forks and you have hard forks. A soft fork is just the interim update, which doesn't actually modify the ledger.


It is as far as how it works functionally. And if you don't upgrade, you don't end up with a new chain. However, if with a hard fork, a hard fork results in essentially a new chain. So everyone that has taken in this case, the CCM 3.0 upgrade for the QRL node, they will start going off on another chain and those did not.


Upgrade will be under a different set of rules and they will continue on the old chain. So it's like, you know, the old Bitcoin cash if you don't like, if you don't like the rules, you get to pick. It's your node. You get to side. If you don't like the node, you know, that's, that's one of the, that's one of the tenants of crypto.


So, yeah, I'm going to show you how to do that. Generally, I think most people always want to keep their nodes updated based on what's in line with the project because the projects improve being things. So I recommend if you're running a new QRL node, I highly recommend you update it.


Yep, and it's kind of hard to tie the analogy to say, you know, just how you would update, you know, a system operating system, anything on your computer, but you know, you can kind of relate it to that. It's probably best practice. But as you said, some of the core tenants of blockchain, you have the power to choose there.


But a question that I have, which is kind of like an obvious one to probably most of us, including us, but what would happen if you, if you don't do an upgrade, is there anything else that would be bad other than what you kind of just mentioned, is there anything else negative about not upgrading? What's the short answer to that one?


Well, I think in most projects when they do a hard fork, not everyone almost certainly not and big, you know, medium to bigger projects, not everyone makes the upgrade in time by the block.


You know, the reasons for not doing it could be political or, you know, it's usually ideological.


But if you don't upgrade, you'll just continue on the same blockchain as all the other notes that did not upgrade. You know, and if you just guys did it, you know, like Bitcoin cash that was an ideological reason not to upgrade and that DCH is still around.


So, in this case, definitely take the upgrade.


Yeah, so, so with that, could you give us a real quick walk through on your screen and show us an upgrade of the cure on that way, those who are watching get a quick refresher, I will time stamp that that way if someone's watching it, they can see exactly how to do it.


Maybe share a link as well.


Yeah, let me share my screen here.


What we're going to do is we're going to upgrade to QRL node 3.0, the CCM build. The upgrade, upgrade process is pretty easy. First off, we're going to stop, stop the running node, the process is called start underscore QRL.


You need to do that with control C, control X or just close the window.


Next, we're going to open up a new console session.


And we're going to type pip 3 install QRL dash you can see we're updating and at the very bottom there it's a successfully installed QRL 3.0.1.


So then we're just going to start underscore QRL.


And it's going to be running through some blocks so just let it take its time and do its thing.


And that's it.


Thanks Michael for going through the node instructions and how to upgrade that where I want to dive into now for the main part of our episode is you've built this really awesome theme case.


I want to ask with this could you I'll show maybe a couple images while you're describing it and then you can go through the whole start to finish build for everyone viewing but can you give us a little bit of context on the idea that you have your head and how you kind of want about building it.


I love to hear on this and I think a lot of people with our community will as well.


So I'm just going to say that you have a lot of things that know me I like combining the steampunk style with state of the art tech for me that's really interesting because you have two different, you know, two different.


You have a you know something doing something steady the art novel running on what looks like something that's staempowered so in celebration of CCM 3.0 and the the QRL update I built a the a custom case.


It's just a James pay for providing the hardware to me and doing the build for me it saved me some time from our discord community and a bit built out of case it's got a it's got a bunch of cool features and we'll play that video so that you get to see what it is I hope you guys I hope you guys like it.


So I think we're going to pan over to this walkthrough start to finish of that and for those of you watching enjoy the walkthrough of Michael strikes custom dean note.


So.


So this is quantum resistant ledger node that's been built into a.


So thanks to James P as well for providing the hardware in the build from discord.


Is Bitcoin A Ponzi Scheme?

is Bitcoin upon Z-Skeem and today's episode we're going to cover that in a lot more so let's dive in.


Is Bitcoin A Ponzi Scheme?

What is going on everyone and welcome back to another episode of the Quantum Resistant


Is Bitcoin A Ponzi Scheme?

Ledger channel, your video portal into the world, a post quantum digital asset security.


Is Bitcoin A Ponzi Scheme?

And today's episode we're diving into is Bitcoin upon Z-Skeem with me is our director of outreach


Is Bitcoin A Ponzi Scheme?

at the QRL strike. It's awesome to have you with me. How's your day going? Good. I'm always glad to be back.


Is Bitcoin A Ponzi Scheme?

Cool. Well, for those of you watching this, obviously with the title is Bitcoin upon Z-Skeem.


Is Bitcoin A Ponzi Scheme?

Some of you may be yelling at the computer and saying no, it's not. And maybe a few of you


Is Bitcoin A Ponzi Scheme?

skeptics or a fudders out there are saying, well, is it a Ponzi scheme? So we're going to dive into


Is Bitcoin A Ponzi Scheme?

just that in today's video. So, straight before we dive into me asking you the question and kind of


Is Bitcoin A Ponzi Scheme?

picking this apart a little bit, I just want to give one minute of background on who Charles Ponzi is,


Is Bitcoin A Ponzi Scheme?

what a Ponzi scheme is, and then that will set up a little bit of a definition before we dive into it.


Is Bitcoin A Ponzi Scheme?

So for those of you at home, a Ponzi scheme derives from a man named Charles Ponzi. He was born in 1882 in Italy.


Is Bitcoin A Ponzi Scheme?

And Ponzi scheme is, you know, the fraud had been done before but never on his level. So that's


Is Bitcoin A Ponzi Scheme?

why the term was coined after his last name. So what he did in the 1920s in the US is he had a fraud,


Is Bitcoin A Ponzi Scheme?

a scheme where he would lure investors in promising either, you know, 50% profits within 45 days


Is Bitcoin A Ponzi Scheme?

or 100% profits in 90 days. And the way he paid the early investors was with luring in new investors


Is Bitcoin A Ponzi Scheme?

and the scheme kept going on. And he used what was called the International Reply coupon. So this was


Is Bitcoin A Ponzi Scheme?

back in the day, we don't really do this now, but you would, let's say you had family back over


Is Bitcoin A Ponzi Scheme?

season Europe, you'd send them a package, the International Reply coupon would let them reply to you.


Is Bitcoin A Ponzi Scheme?

So he had, the scheme was that, oh, you know, we're going to have arbitrage and that's how you're going