Cryptocurrencies like Bitcoin, Litecoin, Ethereum, etc. are almost completely impossible to hack with binary computers, but the rise of Quantum computing may lead to a paradigm shift for the security and stability of cryptocurrency. A quantum computer can exist in many more states than 0 and 1 due to quantum superposition and entanglement. Essentially, a quantum computer can exist in an infinite amount of states, so once quantum computers become a mainstream reality, they have the potential to be exponentially more powerful than binary computers.
This is why Quantum Resistant Ledger is such an important technological advancement; it is creating an avenue for cryptocurrency to survive the rise of quantum computing. QRL is the first cryptocurrency to use the extended merkel signature scheme (XMSS), which is a hash based digital signature scheme that is provably quantum resistant. The QRL network utilizes proof-of- stake (PoS), which is an energy efficient scheme where users earn extra coins for participating in maintaining and securing the network simply by keeping their wallets open and online.
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This is not advice. Advice should be accepted by your chosen legal counsel only and financial advice should come from a licensed or certified financial professional. As always – do your homework and make decisions based on your own education. Seek information and look into projects before adding to or diversifying your portfolios.
References:
https://coinmarketcap.com/currencies/quantum-resistant-ledger/
